Wall Street kicked off the week with modest gains in technology and growth names, while small caps and blue chips stalled as investors braced for a flood of economic data, culminating on Friday with the September labor market report.
Wall Street moved modestly higher by midday Friday, yet major indexes remain on pace to break a three-week winning streak. At midday, the S&P 500 was up 0.4% to 6,630, while the Nasdaq 100 gained 0.2% to 24,440. The Russell 2000, the benchmark small-cap index, rebounded 0.5%.
Wall Street retreated on Thursday, with major indexes heading for a third straight day of losses as stronger-than-expected economic data reduced hopes for near-term Fed rate cuts and lifted the dollar.
Wall Street kept driving equity valuations higher on Friday, extending the momentum from Thursday when all major U.S. benchmarks closed at record highs following the Federal Reserve's rate cut.
