Wall Street advances as debt, energy concerns abate
Al Jazeera
Markets have been buffeted in recent weeks by worries about an energy crisis, elevated inflation and reduced stimulus.
U.S. equities rose on Thursday, bolstered by progress on U.S. debt-ceiling talks and easing concerns about Europe’s energy crunch.
The S&P 500 climbed as much as 1.5% before fading on news China plans to tighten its supervision over technology companies. The gains were led by the materials and consumer discretionary sectors, putting the benchmark index on track for its best three-day advance since July. The yield on the U.S. 10-year Treasury note rose to 1.57%, the highest since June.
“We’ve had a 24-hour stretch where we’ve pulled back from a few of the key risk drivers that have been concerning markets,” said Giorgio Caputo, senior portfolio manager at J O Hambro Capital Management.
