U.S. stocks rose and bond yields fell, with traders awaiting Jerome Powell’s keynote on Friday.
A two-day advance for the S&P 500 trimmed a selloff that knocked down the market earlier in the week. U.S. jobless report showed that applications for unemployment benefits declined for the second week. Elsewhere, oil fluctuated as traders expect hawkish comments by Powell at the Jackson Hole symposium. Gold cut early gains and Bitcoin remained near $21,000.
Back home, India’s stock benchmarks declined after a volatile final hour of trade on the expiry day of August series derivatives contracts. The Sensex and Nifty reversed course, dragged by information technology, banking stocks.
The local currency depreciated against the U.S. dollar dragged by rise in crude prices.
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