Day: 4 October 2023

On Wednesday, S&P 500 and Nasdaq rebounded slightly following a prior day’s decline, driven by lower-than-expected U.S. private payroll growth in September, while the Dow saw a minor dip. Consumer discretionary led S&P 500 sectors, and the ADP National Employment Report tempered surging long-term Treasury yields. Persistent concerns about rising interest rates and the Federal Reserve’s rate stance weighed on investors’ minds. August showed an unexpected surge in U.S. goods orders, with Friday’s September job report holding the week’s economic spotlight. Strategists and investors increasingly recognize the likelihood of sustained higher interest rates, dashing hopes of a Fed rate cut.

European stocks extend declines amid commodity and retail company drops as U.S. and European bond yields pause, energy sector faces worst day, and consumer impact of rising prices becomes evident.

Stocks Rise on Wall Street Amid Job Market Insights and Lower Interest Rates, Boosting Investor Confidence.