Stocks rebound from sharp losses suffered after service-sector data
U.S. stocks recovered from early losses to trade mixed Thursday after a report on the U.S. services sector showed it growing at a slower pace than at any point since 2016, following a report on manufacturing earlier this week that showed it contracting for the second month in a row.
Read: Dow, S&P 500, Nasdaq notch worst start to a quarter since 2008 financial crisis as recession fears accelerate In other data, the Labor Department estimated that the number of Americans applying for new jobless benefits rose to a one-month high of 219,000, potentially effected by a three-week-old strike at General Motors Inc., though the number of jobless claims remain near historic lows.
A number of other Fed officials are set to speak on Thursday, including Fed Gov. and Vice Chairman for Supervision Randal Quarles, who gave a speech in Brussels at 8:30 a.m. ET, Cleveland Fed President Loretta Mester, set to speak at after noon, and Fed No. 2 Richard Clarida, who is slated to speak on the outlook for the economy and monetary policy at 6:35 p.m.
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