Bonds & Stocks
A selloff in technology companies kept a lid on stocks ahead of the jobs report, with higher oil prices raising concerns about inflation and lifting bond yields. Renewed anxiety about artificial intelligence spending left the S&P 500 wavering.
Economy
Applications for US unemployment benefits were little changed, remaining below 200,000 for a third straight week and underscoring the labor market’s resilience. Initial claims edged up to 199,000 in the week ended Aug. 1, according to Labor Department data released Thursday.
World
The wait for an Iran-Oman deal that partially reopens the Strait of Hormuz continued into Thursday, after the Islamic Republic said an agreement on proposed shipping lanes was in the final stages. The two countries that border the crucial waterway have been negotiating a plan for the management of maritime traffic since last month.