Finance

Major U.S. equity indexes staged a late-day comeback, closing slightly higher as the pressure from soaring bond yields began to ease. The tech-heavy Nasdaq and the S&P 500 led the recovery, bolstered by strong quarterly outlooks from major chipmakers like Micron Technology. Despite the positive turn, overall market gains remained capped ahead of crucial economic indicators.

International oil benchmarks extended gains, with Brent crude trading above $101 per barrel to intensify ongoing inflation concerns. The energy rally was driven by reports that Chinese refiners are halting fuel exports to prioritize domestic inventory, alongside persisting geopolitical frictions in the Middle East. Higher energy costs continue to exert upward pressure on sovereign borrowing costs globally.

Wall Street is preparing for the release of the September nonfarm payrolls report, which serves as a major indicator for the health of the domestic labor market. Consensus forecasts predict the addition of roughly 84,000 jobs, marking a slowdown from the previous month. The upcoming report is expected to heavily influence the Federal Reserve's monetary policy trajectory regarding future interest rate adjustments.