U.S. major averages are set to extend weekly gains, and Treasury yields declined after the nonfarm payrolls for April and May were sharply revised down.
NVDA
NVDA
The S&P 500 index and the Nasdaq Composite advanced to new record highs after a batch of softer economic data strengthened the case of interest rate cuts later in the year. European bond yields advanced ahead of the UK parliamentary elections on Thursday. Market indexes in Japan and Hong Kong extended the recent rally.
U.S. major averages rebounded, Treasury yields held steady, and crude oil prices fell. European markets closed down amid election jitters in the UK and France. The Japanese yen's weakness signals lower lows for the embattled currency. The Chinese premier reiterated the annual economic growth target and dismissed economic decoupling risks.
U.S. tech stocks took a much-needed breather after rising for two months in a row as investors rotated into energy stocks and banks. European markets closed higher, but French political turmoil weighed on the market. The Japanese yen fell to a three-decade low, testing the Bank of Japan's resolve to defend the currency.