Strong jobless data boosts S&P 500

Better-than-expected jobless data boosts the S&P 500 to its best session in almost 2 years, allaying recent recession fears. However, Asian equities falter late in the session with markets failing to claw back ground lost during Monday’s historic sell-off. July’s consumer prices in China come in hotter than anticipated, helping to push Beijing authorities to prop up spending. And Republican presidential nominee Donald Trump has said he should have sway within the Fed if re-elected. He has also agreed to debate Democrat nominee Kamala Harris in September.