(Bloomberg) — US stocks rose as traders await bigger clues about the health of the economy after upbeat data on Thursday.
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The S&P 500 climbed 0.4% to its 42nd closing record of this year. The Nasdaq 100 ended the session 0.7% higher, after jumping as much as 1.5% earlier. The Bloomberg Dollar Spot Index declined. The 10-year US Treasury yield advanced to around 3.79%.
Markets were ebullient earlier after data highlighted a resilient US economy and China pledged to support fiscal spending. US stock indexes were also propelled higher by Micron Technology Inc., which gave a strong forecast aided by AI demand.
On the other hand, news of the US Justice Department’s probe of Super Micro Computer Inc. — also a beneficiary of the AI boom — pushed its shares lower. After the closing bell, Costco Wholesale Corp. posted higher-than-expected profit.
Now, traders are waiting for the next batch of catalysts that could…
