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Congress so far has failed to pass any spending bills to fund federal agency programs in the fiscal year starting on Oct. 1 amid a feud within the Republican Party
The Federal Reserve expressed concerns that this robust economic activity could lead to continued inflationary pressures, potentially necessitating further tightening. Moreover, the extension of the OPEC+ output cut led to a rise in oil prices, contributing to inflationary risks
"In addition, the dollar has reached fresh six-month highs... Gold continues to be very data-dependent, we have initial jobless claims later in the day but the significant one will be CPI (consumer price index) data due next week."
US hiring expected to increase by 200,000 in July, while unemployment remains low at 3.6% and hourly pay cools.
NEW YORK (Reuters) - The S&P 500 advanced on Thursday and benchmark Treasury yields hit their highest level since early March as robust economic data helped ease recession fears but increased the odds of the Fed keeping its restrictive policy in place for longer than expected.