Wall Street closes higher as Treasury yield eases after seven-session rise

  • Wall Street reversed an earlier selloff as easing Treasury yields lifted stocks.
  • 90,000 jobs are expected in September, with unemployment forecast at 4.1%.
  • Benchmark Treasury yields retreated after seven consecutive sessions of gains.

Wall Street ended the first session of the new quarter modestly higher after the benchmark US Treasury yield retreated from a 24-year high, breaking a seven-session run of gains. Investors turned to Friday's employment report, which is expected to show 90,000 jobs were added in September while the jobless rate remained at 4.1%. Energy, chip, software and services, and Dow Transports shares outperformed, while healthcare and communication services lagged. Micron and Accenture rose after issuing better-than-expected revenue forecasts. The dollar reached a 17-month high against the euro, crude prices gained after China halted oil-products exports, and gold rose as expectations for Federal Reserve rate hikes weakened. European stocks closed at three-month lows. Separate market issues included questions about Nvidia's financing plans, Russia's warning that it could use nuclear weapons if NATO attempts to isolate Kaliningrad, and a hacking campaign by the group TA419 targeting AI experts. Markets will also watch Middle East developments, energy prices, bond yields, social media posts from Trump, US factory orders and euro-area inflation.

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