Tech stocks led the markets higher on Thursday as investors shifted their focus to the upcoming US jobs report and searched for interest-rate clues. The Dow Jones Industrial Average rose roughly 0.4%, bouncing back from three consecutive days of losses. The S&P 500 and the Nasdaq Composite also made gains, building on their slight closing increases from the previous session.
Amid concerns over stock market volatility at the start of the second quarter, Federal Reserve Chair Jerome Powell reassured investors that the Fed would continue with its plan to lower interest rates. Powell’s remarks seemed to put the debate over rate cuts to rest for the time being, prompting a more positive market sentiment. The upcoming March jobs report, set to be released Friday morning, is expected to provide further insights into the state of the strong US labor market.
In corporate news, Levi Strauss shares surged by 18% after the company raised its full-year earnings forecasts. Additionally, BlackBerry’s US-listed stock saw a spike following the cybersecurity unit’s contribution to a surprising quarterly profit. Overall, the market seemed to be recovering from its recent turbulence, with tech stocks driving the positive momentum and investors anticipating key economic data releases.
