Schwab Market Update Audio Charles Schwab

The S&P 500 index climbed to a three-week high after the Labor Department reported weaker-than-expected payroll growth, boosting rate cut hopes.

The S&P 500 index ends a two-day slide as investors took encouragement from Fed leader's comments and await the Labor Department update.

Fed policy leaders held benchmark rates unchanged as expected, but Powell encouraged investors by saying further increases are unlikely.

The S&P 500's five-month winning streak ended after unwelcomed inflation measures and a drop in consumer confidence fueled widespread selling.

Major indexes edged higher but still poised for down month as investors brace for heavy week of earnings, economic news.

Alphabet's shares rally sharply followed robust quarterly earnings, lifting tech stocks and helping the Nasdaq Composite end its four-week slide.