US Stocks Extend Gains as Traders Weigh Soft Jobs Data, Earnings
Traders work on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergUS stocks rallied into the close on Thursday — with the S&P 500 Index hitting a record high — as softer-than-expected labor market data bolstered the case for interest-rate cuts, offsetting a string of disappointing technology earnings.
The S&P 500 rose 0.8% and the Nasdaq 100 Index climbed 0.9%. A gauge of Magnificent Seven companies added 1.3%, also reaching a record. The Cboe VIX Index fell to around 15. The 10-year Treasury yield slipped to 4.16%.