Treasury yields fell as data showing further signs of labor-market cooling emboldened views that the Federal Reserve will be able to cut interest rates next year to prevent a recession.
Two-year yields dropped four basis points to below 4.6%. The S&P 500 moved away from session lows. US job openings fell to the lowest level since March 2021. The number of available positions decreased to 8.7 million from a downwardly revised 9.4 million in the prior month. Hiring edged lower. Layoffs were little changed.
Big tech stocks rebounded in morning trading. Tesla rose 3%; Apple, Amazon and Nvidia rose about 2%; Alphabet rose 1%.
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