U.S. stocks advanced,
after the Standard & Poor’s 500 Index fell to its lowest in a month,
as Yahoo! Inc. led a rebound in technology shares before Friday’s labor
report.
The S&P 500 added
0.4 percent to 2,088.04 at 4 p.m. in New York, near its average price
during the past 50 days. The government will release April jobs data
Friday before U.S. markets open.
U.S. stocks fell
yesterday, dragged lower after Federal Reserve Chair Janet Yellen warned
of high equity market valuations and after a private report that showed
hiring slowed.
Stocks bounced back
after a two-day selloff that sent the number of equities trading above
their 50-day moving average to the lowest level in three months, data
compiled by Bloomberg show. At yesterday’s close, 200 members in the
S&P 500 traded above the threshold, which is viewed by analysts to
gauge a security’s momentum. That’s the lowest reading since Jan. 3
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