(Bloomberg) — Stocks and bonds steadied after a bruising two-day selloff to start 2024. Oil advanced as conflict in the Middle East added to supply concerns.
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Europe’s Stoxx 600 added 0.4%, with Next Plc jumping more than 5% after the British home and clothing retailer raised its profit forecast for the fifth time since June. Futures trading suggested US stocks are poised to snap their run of declines. Bonds climbed, with the 10-year Treasury yield inching one basis point lower to 3.91%.
Attention now turns to upcoming US jobs data on Friday as investors look for further clues on the timing of possible interest-rate cuts this year. On Wednesday, minutes from the Fed’s December meeting suggested rates could remain at restrictive levels “for some time.”
Elsewhere, geopolitics remained in focus. Oil prices rose nearly 1% amid escalating tensions in the…
