Stocks drift, dollar wobbles ahead of US data

Stocks struggled for direction on Thursday while the dollar stumbled as the euphoria from market tailwinds earlier in the week fizzled out, with traders looking to US data later in the day for further catalysts. US Treasury yields were elevated and the benchmark 10-year yield rose to a one-month top, in part due to worries over President Donald Trump’s budget package that would add trillions of dollars to the US debt. Investors were greeted with a plethora of good news earlier this week from a US-China trade-war truce to a raft of headline-grabbing investment deals from the Middle East during…