US Stocks-Wall Street rallies as Fed's Waller eases rate hike fears
SPY•Indexes and sector performance
The Dow Jones Industrial Average .DJI rose 645.71 points, or 1.22%, to 53,707.66, the S&P 500 .SPX gained 88.54 points, or 1.15%, to 7,755.14 and the Nasdaq Composite .IXIC gained 410.31 points, or 1.57%, to 26,628.14.
Of the 11 major sectors in the S&P 500, consumer discretionary .SPLRCD was up the most, while materials .SPLRCM and energy stocks .SPNY showed modest percentage losses.
Economic data and payrolls outlook
Thursday's economic reports were generally upbeat, with low jobless claims and an acceleration of the service sector. On the other hand, the data showed services input prices hit their highest level since October 2022, and the international trade gap widened by 24.4%.
On Friday, the Labor Department is due to release its August employment report, which is expected to show the U.S. economy added 56,000 jobs last month, holding the unemployment rate steady at 4.1%.
