Wall Street closes higher as Treasury yield retreats from 24-year high

  • Wall Street reversed an earlier selloff and finished Thursday higher.
  • 90,000 jobs are expected to have been added in September, with unemployment at 4.1%.
  • The benchmark Treasury yield ended a seven-session winning streak after reaching a 24-year high.

Wall Street ended Thursday’s opening session of the new quarter slightly higher after the benchmark US Treasury yield pulled back from a 24-year high, snapping a seven-session advance. Investors now await Friday’s employment report, which is expected to show the US economy added 90,000 jobs 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 as bond yields and oil prices climbed. Crude settled higher after China halted oil-products exports, while gold gained as expectations for Federal Reserve rate hikes eased. European stocks closed at three-month lows. Markets will also track developments in the Middle East, energy prices, bond yields, social media posts from Trump, US factory orders for August and euro-area inflation for September. Other issues highlighted include questions over Nvidia’s financing plans, Russia’s nuclear warning to NATO over Kaliningrad and a cyber campaign targeting AI experts.

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