- S&P 500 declines amid calls about near-term pullback
- US 30-year bond yield rises to highest level since November
The rally that drove the stock market up almost 30% from its October lows took a little break at the start of the new month amid calls for a near-term pullback.
Just a few days ahead of the all-important jobs report, data suggested some softening in demand for workers in a still tight labor market. The numbers weren’t enough to entice investors, who also grappled with a mixed bag of corporate earnings. The S&P 500 finished the session with a small loss. Bonds fell, with the 30-year yield hitting its highest since November as the Treasury prepares to ramp up issuance of longer-dated securities.
Rita Nazareth | Bloomberg