A fresh look at the U.S. labor market in the coming week along with quarterly results from semiconductor company Broadcom will test a market rally that has lifted stocks near record highs. The S&P 500 posted a weekly gain, putting the benchmark index slightly more than 1% away from its August 13 all-time high. A blowout quarterly report on Wednesday from AI bellwether and market behemoth Nvidia boosted sentiment for stocks, which had been dented earlier in the month by rising Treasury yields.
Investors were focused on the monthly U.S. employment report, due on September 4, and on whether the jobs data would offer hints about the U.S. Federal Reserve's plans for interest rates in coming months.
