Stocks rose on Thursday, a day ahead of the monthly jobs report, as a rebound in shares of Apple helped technology shares.
Traders were reluctant to bet heavily before the release on Friday of the Labor Department’s employment report for November, and trading volume was lighter than normal.
Investors are also keeping watch on the negotiations in Washington to see if lawmakers can reach a deal to avoid a series of spending cuts and tax increases beginning in January.
“The only stabilizing factor is that Apple is higher again, which is lending some support to the broader market,” Donald Selkin, chief market strategist at National Securities in New York, said.
Apple climbed 1.6 percent to $547.24. The stock was coming off its biggest one-day drop in four years on Wednesday, which occurred on concerns about higher capital gains taxes in 2013 and the company’s tablet computer market share.
The S.& P. technology index was the best performing of the S.& P. 500’s 10 major sectors, gaining 0.8 percent.
The Dow Jones industrial average rose 39.55 points, or 0.3 percent, to 13,074.04 at the close. The Standard & Poor’s 500-stock index added 4.66 points, or 0.33 percent, to 1,413.94. The Nasdaq composite index gained 15.57 points, or 0.52 percent, to close at 2,989.27.
Monthly payroll numbers, which will be released by the Labor Department before the market opens on Friday, are expected to show a sharp slowdown in jobs growth, though that is largely a result of Hurricane Sandy. The unemployment rate is expected to hold steady at 7.9 percent.
Broader moves were limited, however, as traders focused on the fiscal debate in Washington. About three weeks remain before higher tax rates are to go into effect, an event that economists worry will curb economic growth. Legislators are trying to come up with a deal to avoid some of the negative effects on the economy while still reducing the budget deficit.
An S.& P. index of consumer discretionary shares gained 0.6 percent, lifted by Starbucks shares’ advance of 5.7 percent to $53.70 after Baird upgraded the stock to outperform.
H&R Block climbed 5.1 percent to $18.26 after the company reported a quarterly loss that was narrower than expected.
Sirius XM Radio shares rose 0.7 percent to $2.79 after the company’s board approved a $2 billion stock repurchase and declared a special dividend that gave a big payout to its largest shareholder, Liberty Media.
Shares of the navigation device maker Garmin jumped 5.7 percent to $41.99 after Standard & Poor’s said it would add the company to the S.& P. 500. Garmin will replace R. R. Donnelley & Sons after the close of trading on Tuesday.
Interest rates were steady. The Treasury’s 10-year note rose 2/32, to 100 12/32, and the yield was unchanged at 1.59 percent.
Investors Trade Lightly Ahead of Jobs Report
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Investors Trade Lightly Ahead of Jobs Report
