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- On Thursday, shares in the US climbed, boosted by progress in debt-ceiling discussions in the US and alleviating fears over Europe's energy crisis.
- The S&P 500 rose as much as 1.5% before almost halving gains on China's plans to tighten its supervision over technology firms. The minerals and consumer discretionary sectors led the way higher, extending a three-day gain to 2.3%.
- The 10-Year Treasury note yield rose to 1.57%, the highest level since June.
- Concerns over an energy crisis, rising inflation, decreased assistance, and weaker growth has roiled markets in the last month. Yet, the potential of a short-term increase of the US debt ceiling is alleviating concerns about political wrangling.
- Natural gas prices fell after reports that Russia may expand supply to Europe.
- After that, all eyes will be on Friday's nonfarm payrolls in the US, which may give insight on the Federal Reserve's schedule for reducing bond purchases. There is growing anticipation that the report would reflect the ‘decent’ employment growth that Fed's Powell has expressed his desire for. Last week, initial unemployment claims in the US declined more than expected, while ADP employment numbers for September were above forecasts.