- US stocks climbed, with the tech-heavy Nasdaq moving higher.
- Shares of Alphabet jumped as Google rolled out Gemini, its answer to ChatGPT.
US stocks rallied on Thursday ahead of a key report from the Labor Department due Friday.
The S&P 500 notched its first day of gains after three consecutive losing sessions, while the tech-heavy Nasdaq gained more than 1%, aided by fresh AI excitement generated by Google.
$4 following the company's announcement of its ChatGPT competitor, Gemini. The stock closed 5.34% higher at $138.45 a share.
Markets are coming off a softer-than-expected job openings and private payrolls reading earlier in the week, fueling further bets that interest rates are set to come down next year.
"There's nothing to see here — jobs market remains strong, but there are clear signs outside the data that things are changing," Jamie Cox, managing partner for Harris Financial Group said in a note regarding weekly jobless claims. "We will soon be grappling with outright job cuts in size and it's going to catch a lot of people by surprise."
Friday's employment data will give central bankers one further data point to $4 at the December FOMC meeting to be held next week.
Here's where US indexes stood as the market closed at 4:00 p.m. on Thursday:
- S&P 500>$4: 4,585.59, up 0.8%
- Dow Jones Industrial Average>$4: 36,117.57, up 0.18% (+63.14 points)
- Nasdaq Composite>$4: 14,339.99, up 1.37%
Here's what else is going on:
- Investors love $4.
- Jeremy Grantham's GMO divided the mega-cap tech stocks into $4.
- SEC Chairman Gary Gensler cautioned that an AI herding effect could drive markets off $4
- Bank of America said the 10-year Treasury yield could plunge further to $4.
- The $4 is boosting homebuilder stocks to fresh highs.
- Janet Yellen said bond-market moves can $4.
- ETFs are nearing the highest number of closures ever as $4.
- Here are the three catalysts set to $4.
- Mohamed El-Erian said markets could be$4 by ignoring the Fed's signals.
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