Stocks Rebound Ahead of Big Tech Earnings; Yields Drop Before Jobs Data
• Stocks rebounded ahead of earnings from Amazon, Apple, and Meta Platforms after a selloff Wednesday following Fed pushing back on March rate cut.
• Treasury yields slipped with the 10-year falling to 3.862% as labor metrics have been soft, indicating potential buys ahead of Friday's jobs report.
• Regional bank shares dragged down by New York Community Bancorp and SPDR S&P Regional Banking ETF falling over 3%.
• Crude oil futures stepped back from 2-month highs; Brent crude fell sharply around 1230 ET on news of potential Hamas-Israel ceasefire before recovering.
• Peloton stock fell sharply after cutting its yearly outlook; has seen one of the largest increases in short interest recently.