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Stock market news today: Traders await jobs data, debt ceiling moves

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US stocks jump as markets brace for May jobs report and debt ceiling bill nears finish line

US stocks rose on Thursday as the debit limit deal advanced in Congress while investors look ahead to key labor data.

Bipartisan legislation was passed in the House late Wednesday and is now moving to the Senate, easing worries of a destabilizing US default. Meanwhile, the Labor Department will release the May payroll report on Friday, one of the last major pieces of data before the Federal Reserve's next policy meeting on June 13-14. that current interest rates are likely not sufficient to bring down US inflation.

 

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