US stocks tick higher and yields leap as Wall Street sees little chance for a July rate cut
US stocks tick higher and yields leap as Wall Street sees little chance for a July rate cut
NEW YORK (AP) — U.S. stocks are ticking further into record heights after a report showed the U.S. job market looks stronger than Wall Street expected.
The S&P 500 rose 0.3% Thursday and was on track to set an all-time high for the fourth time in five days.
The Dow Jones Industrial Average added 88 points, and the Nasdaq composite gained 0.5%. The reaction was bigger in the bond market, where Treasury yields jumped.
The strong data on U.S. jobs pushed traders to erase bets that the Federal Reserve could cut its main interest rate at its next meeting later this month.
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