S&P 500 Notches Biggest Rally Since November 2022: Markets Wrap
- US initial jobless claims decline by most in nearly a year
- Treasury yields rise as report dims bets on Fed policy easing
This article is for subscribers only.
Stocks staged a solid rebound and bonds retreated after the latest US labor-market reading helped ease concern about a more pronounced slowdown in the world’s largest economy.
All major groups in the S&P 500 advanced, with the gauge notching its biggest rally since November 2022 as data showed US initial jobless claims tumbled the most in nearly a year. As economic angst subsided, Treasuries dropped across the curve — with the selloff led by shorter maturities. Bonds held their losses after a weak $25 billion sale of 30-year government debt.