The S&P 500 closes higher as traders await the payroll report
U.S. stocks were mixed in the final trading session before the release of the December jobs report on Friday.
In a choppy session, the S&P 500 closed 0.2 percent higher on Wednesday, while the Nasdaq Composite fell 0.1 percent. Both indexes fell more than 1 percent on Tuesday.
Minutes from the Federal Reserve’s December meeting released during afternoon trading showed that central bank officials saw the need for a “cautious approach” to future rate cuts. Still, the minutes did little to change traders’ expectations that the Fed’s first rate cut this year will come in July.
Official labor market data released on Friday provides investors with the next opportunity to weigh the outlook for monetary policy this year.
The US stock and Treasury market will be closed on Thursday for the memorial service for former President Jimmy Carter.
