Investing.com | Editor Rachael Rajan
Published Oct 06, 2023 05:41PM ET
Last week, the U.S. stock market experienced a rebound, with the S&P 500 and Nasdaq 100 increasing by 1.2% and 1.7% respectively. This upswing was primarily driven by large-cap tech stocks such as Microsoft (NASDAQ:MSFT), Apple (NASDAQ:AAPL), and Nvidia (NASDAQ:NVDA). The surge in stocks came in the wake of successful negotiations with the autoworkers union.
While the stock market was bouncing back, yields on 10-year and 30-year Treasuries showed signs of calming after reaching near highs of 4.9% and 5.1%, respectively. This occurred amidst a global bond decline that has been ongoing for five consecutive weeks.
In labor market news, the nonfarm payrolls report indicated an accelerated pace of hiring with 336,000 jobs added in September,…
