Stocks Shake Off Fear of Next Rate Hike; Dollar Up: Markets Wrap
- Equities pare back from losses in light afternoon trading
- US jobs report bolsters case for another interest-rate hike
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US stocks eked out a gain in holiday-thinned trading as investors shrugged off fears of one more Federal Reserve interest-rate hike following Friday’s US jobs data. The dollar climbed.
The S&P 500 benchmark rose 0.1% into the close after falling as much as 0.8% intraday. The Nasdaq 100 Index clawed its way back from a 1.5% loss to end the day little changed. The tech-heavy benchmark has advanced for the past three weeks as investors snapped up mega-cap stocks in the sector. Yields on the policy-sensitive two-year Treasury hovered around 4%.