More stocks are participating in the S&P 500’s latest march to record highs, easing concerns over a rally that has been concentrated in a handful of giant technology names for much of 2024.

Wall Street is drifting following the latest data showing a solid U.S. economy, while crude oil prices continue to climb

That could be an encouraging signal for the more comprehensive report on the U.S. job market due to arrive Friday from the U.S. government. The dominant question hanging over Wall Street has been whether the job market can keep holding up after the Federal Reserve earlier kept interest rates at a two-decade high.

Wall Street tipped toward small losses early Thursday ahead of some labor market reports that will be closely analyzed by the Federal Reserve as it shifts its focus from inflation toward supporting the broader economy.