- The S&P 500 is on track for its fourth straight day of gains.
- The technology-heavy Nasdaq Composite index increased by 2.2%.
- The yield on benchmark 10-year note remained lower than the yield on the two-year bond.
Thursday was a positive day for US and European stocks as investors weighed the prospects of a global economic slowdown against the possibility that central banks could dial back their plans for interest rate hikes.
In mid-afternoon trading, the S&P 500 gained 1.4%, putting the US stocks benchmark on track for its fourth straight day of gains after ending June with its biggest first-half decline in more than 50 years. The technology-heavy Nasdaq Composite index increased by 2.2%.
The yield on the benchmark 10-year note remained lower than the yield on the two-year bond, a phenomenon known as an inverted yield curve.
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