- Wall Street remained hesitant to make significant bets ahead of Friday's jobs report, with stocks eking out gains, bonds trading mixed, and the dollar barely moving.
- Big tech led a rally in equities, which got a boost after Federal Reserve Bank of St. Louis President James Bullard said he doesn't believe tighter credit conditions caused by recent banking turmoil will send the economy into recession. Nonetheless, uncertainty over whether the payrolls data will show inflation is cooling or fuel economic concerns has kept many traders on the sidelines.
- Trading volume in the S&P 500 was lower than the previous month's average in the run-up to the jobs report and the long weekend. The Nasdaq 100 outperformed major benchmarks, with Alphabet Inc.'s parent company Google and Microsoft Corp. both rising at least 2.5%.
- Treasury two-year yields, which are more sensitive to upcoming Fed moves, have risen above 3.8%. Benchmark 10-year rates fell for the seventh straight session, trading near 3.3%.
