Can stocks put the gloomy start to 2024 behind them?
The S&P 500 edged up Thursday after sagging earlier in the week. Some believe how stocks fare in January sets the tone for the rest of the year, but markets are also coming off of a strong fourth quarter.
Stocks were mixed. The S&P 500 was slightly higher after three straight days of declines. The Dow industrials also gained. The Nasdaq Composite fluttered between gains and losses, after falling for four straight days.
On the earnings front, shares of Conagra and Walgreens were both lower after they released their quarterly reports.
Bond yields resumed their climb. The yield on the 10-year U.S. Treasury note crept closer to 4%, after settling at 3.905% Wednesday.
Overseas stocks were mixed. European indexes climbed while shares fell in Shanghai and Tokyo.
The ADP employment report showed the private sector added 164,000 jobs in December, above the 130,000 expected.
Weekly jobless claims came in at the lowest level since mid-October, suggesting the labor market remains strong.
