The world’s largest technology companies drove stocks higher, with traders also weighing the latest economic data for clues on the U.S. Federal Reserve’s next steps. The Canadian dollar fell as the central bank cut rates.
The S&P 500 headed toward its 25th record this year as Nvidia Corp. led a rally in megacaps. Apple Inc. rose for an eighth consecutive session — its longest winning streak since March 2022. Hewlett Packard Enterprise Co. soared after the company reported better-than-expected revenue fueled by sales of servers built for artificial-intelligence work. Treasury 10-year yields dropped toward the lowest since March.
Just a few days ahead of the U.S. jobs report, data showed the services sector expanded by the most in nine months, powered by the largest monthly gain in a measure of business activity since 2021. Separate figures highlighted that hiring at U.S. companies grew at the slowest pace since the start of…
