Stocks Close Modestly Higher as Treasury Yields Slide Ahead of Jobs Report
IXIC sits 30% above its 52-week low of $20,690.249.
Summary
The Nasdaq Composite closed up 10.53 points to 26,871.45, a modest gain after a choppy session. The 10-year Treasury yield fell 6 basis points to 5.24% after touching its highest level since April 2002, providing support to equities. Initial jobless claims unexpectedly dipped to 197,000 versus 200,000 expected, but traders held back ahead of Friday's monthly jobs report, where economists expect 90,000 new jobs. Oil surged more than 3%, lifting energy stocks and keeping broader buying interest subdued. The market is now positioned for the Labor Department's release, which will likely set the tone for the next trading session.
At the time of this announcement, IXIC was trading at $26,871.60 on NASDAQ in the Finance sector. The 52-week trading range was $20,690.25 to $27,288.79. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: dpa-AFX.