Stocks Rebound on Cooling Inflation Outlook Despite Strong Jobs Data

• Wall Street indexes swing higher after soft ISM services data offers relief on inflation outlook • Payrolls and manufacturing data had previously raised doubts over prospects for 3 Fed rate cuts in 2024
• Benchmark 10-year Treasury yield edges up to 4.40% • Traders pricing in 57% chance of June rate cut, down from 64% a week ago • Focus also on jobs report Friday expected to show 200,000 new jobs in March