How major US stock indexes fared Thursday, 5/2/2024

U.S. stocks closed higher and trimmed their losses for the week. The S&P 500 climbed 0.9% Thursday, a day after swinging sharply when the Federal Reserve said it’s likely delaying cuts to interest rates. The Dow Jones Industrial Average also rose 0.9%, and the Nasdaq composite added 1.5%. Qualcomm, Carvana and other companies helped lead the market after reporting stronger results for the latest quarter than expected. Treasury yields eased in the bond market following reports on joblessness and worker productivity. Friday’s monthly update on the U.S. job market will likely be more impactful.