The latest leg of a surge in so-called “meme stocks” stood out on Wall Street on Wednesday, with the main stock indexes rising slightly ahead of closely watched economic data this week.
The technology sector rose 0.8%, providing the biggest boost to the benchmark S&P 500, while communication services and materials eased.
A weekly unemployment report and May private payrolls data on Thursday will be followed by monthly jobs numbers on Friday.
Investors are closely tracking the labor market’s recovery after an unexpected slowdown in jobs growth in April fanned inflation worries.
The benchmark S&P 500 has recovered most of