The S&P 500 posted a modest gain on Thursday, advancing by 0.19% and snapping a three-session losing streak.
Overnight, the session traded in a volatile range as investors weighed stronger-than-expected manufacturing data against another move higher in Treasury yields. The 10-year Treasury yield briefly climbed to 5.34%, its highest level since 2002, before easing later in the session.
The December S&P 500 futures contract traded as high as 7,767.50 and as low as 7,682.25. The session concluded below the day’s midpoint at 7,687.00, losing 28.50 handles from the prior settlement of 7,715.50.
Tomorrow, market participants can look forward to the September Employment Situation report at 8:30 a.m. ET and Factory Orders at 10:00 a.m. ET.
Among the top components of the index, NVIDIA Corp (NASDAQ: NVDA) emerged as the biggest gainer. The chip designer was able to advance by $2.48 or 1.09% to close at $230.86 for the day.
That performance was over 6 times better than the cash index’s advance of 0.18%.
Conversely, the biggest loser ended up being Broadcom Inc (NASDAQ: AVGO). For the day, the chip designer declined by $7.55 or -2.15% to close at $343.64.
Micron Technology (NASDAQ: MU) also drew attention after reporting a record quarter and stronger-than-expected outlook, although shares declined roughly 2% as Treasury yields remained elevated.
