(Bloomberg) — A rally in some of the world’s largest technology companies sent stocks higher, with traders awaiting earnings from a trio of megacaps and Friday’s jobs report.
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Wall Street shrugged off Jerome Powell’s message that a March Federal Reserve cut is unlikely, sending equities up and bond yields down. Big tech led the rebound before results from Apple Inc., Amazon.com Inc. and Meta Platforms Inc. Equities briefly pared gains amid a drop in banks, with New York Community Bancorp extending its selloff. Despite the uneasiness, Citizens Financial Group Inc.’s chief said NYCB is an outlier and the issues that led to the collapse of several regional lenders last year are largely in the past.
In the run-up to the US government’s jobs figures, a report showed unemployment claims unexpectedly rose to a two-month high. Economists surveyed by Bloomberg forecast payrolls rose by about 185,000 in January…
