US Stock Market Sees Bullish Signals Ahead of Key Data Release
The US stock market is poised for a positive trading day on Friday, October 2, according to Wall Street investors. Key factors that will influence the performance of major indexes S&P 500, Dow Jones, and Nasdaq include the sliding rate of bond yields and the rising price of oil.
Non-farm payrolls data is set to be released on Friday, which could also impact market sentiment. The current state of global markets is marked by uncertainty, particularly regarding the conflict in Iran and its effect on the oil industry.
On Thursday, major indexes showed mixed results, with the Dow Jones rising 20.51 points (0.04%) to 50,926.56, while the S&P 500 rose 14.91 points (0.19%) to 7,666.45. The Nasdaq Composite gained 10.53 points (0.04%) to 26,871.60.
The tech sector continued its upward trend, driven by optimism around artificial intelligence technology. Micron Technology's strong profit report and forecasts exceeded analysts' expectations, sending its stock up 3% for the year so far, reaching a gain of 284.5%. Other AI-related stocks such as Nvidia and Applied Materials also saw significant gains.