S&P 500 and Nasdaq Rise for First Time in Three Days as Tech Tries to Rebound
The Nasdaq Composite rose Thursday, following back-to-back losing sessions, as investors snatched up beaten-down technology stocks ahead of Friday's keynote labor report.
The tech-heavy benchmark rose 0.5%. The S&P 500 gained 0.1%, and the Dow Jones Industrial Average dropped 60 points, or 0.1%.
Popular megacap and chip stocks led the charge, with Nvidia last up nearly 2%. Meta Platforms, Alphabet and Apple rose about 1% each.
Fresh labor market data Thursday sent mixed signals about the health of the U.S. economy as questions linger over whether the Federal Reserve is behind the curve on rate cuts. Private payrolls data showed the weakest growth since 2021, heightening fears of a slowing labor market. However, weekly claims for unemployment benefits declined from the previous week.
Source : CNBC