US stocks rise as yields cool and jobless claims fall
US stocks closed up on Thursday, shaking off earlier losses as Treasury yields finally cooled down.
The S&P 500, Dow Jones, and Nasdaq all posted gains, even with inflation still a worry and Micron Technology slipping a bit.
A drop in jobless claims to 197,000 also pointed to a pretty solid job market.
China fuel pause lifts energy stocks
Energy stocks jumped nearly 2% after China paused fuel exports, sending oil prices higher.
Tech wasn't far behind: software shares rose 1.2%, helped by Accenture's upbeat revenue outlook.
Meanwhile, Micron dipped slightly despite a better-than-expected revenue forecast and $32 billion customer commitments under its supply agreements.
Fed signals slower rate hikes ahead
The Federal Reserve signaled it might slow down on rate hikes soon, which made investors breathe easier about inflation.
Even though some reports still show rising costs, the Fed's careful approach gave markets a boost this week.