Contracts for the Euro Stoxx 50 rose 0.4%, while US equity futures were steady. The S&P 500 climbed 0.8% Wednesday in New York, its biggest gain in almost three weeks, and the Nasdaq 100 advanced 1.5%, its best day in five weeks.
The dollar fell against all its Group-of-10 peers, with the yen strengthening as much as 0.6%. Traders had speculated about official Japanese intervention in the market Tuesday when the currency spiked higher after touching 150 per dollar. However, early indications show that may not have been the case.
The easing of Treasury yields was helped by economic data that prompted traders to scale back forecasts for Federal Reserve tightening this year. US companies added the fewest number of jobs since the start of 2021 in September, according to a survey from the ADP Research Institute in collaboration with Stanford Digital Economy Lab. A separate report from the Institute for Supply Management showed the services sector pulled back modestly last month to the lowest level this year. Friday’s nonfarm payrolls figures are forecast to show hiring slowed in September.
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