Stocks snap 2-day losing streak | Fed's Brainard: Rate hike pause unlikely | Microsoft's turnaround

The Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite each snapped two-day losing streaks.

VIEW IN BROWSER | SUBSCRIBE THU, JUN 02, 2022 EVENING BRIEF AS OF THU, JUN 02, 2022 • 05:11 ET DJIA 33248.28 +1.33% +435.05 S&P 500 4176.82 +1.84% +75.59 NASDAQ 12316.90 +2.69% +322.44 Most Active DOW NAME LAST CHG %CHG AAPL 151.21 +2.50 +1.68% MSFT 274.58 +2.16 +0.79% INTC 44.84 +0.73 +1.66% S&P 500 NAME LAST CHG %CHG AMD 108.59 +7.37 +7.28% AAPL 151.21 +2.50 +1.68% NVDA 195.92 +12.72 +6.94% NASDAQ NAME LAST CHG %CHG AMD 108.59 +7.37 +7.28% AAPL 151.21 +2.50 +1.68% NVDA 195.92 +12.72 +6.94% EDITOR'S NOTE Investors staged a comeback Thursday with all three major U.S. stock averages rallying into the close to finish the day higher. The Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite each snapped two-day losing streaks.   Stocks were lower earlier in the session after Federal Reserve Vice Chair Lael Brainard said it is unlikely the central bank will break from its current rate hiking cycle anytime soon.   "Right now, it's very hard to see the cause for a pause," Brainard told CNBC's Sara Eisen on "Squawk on the Street."   Microsoft shares also turned around Thursday after the company warned revenue and earnings this quarter would fall short of analysts' estimates. The technology bellwether stock initially fell, but closed higher on the day. Investors are awaiting the closely watched employment report for May, which is slated for release Friday morning. Economists expect 328,000 nonfarm jobs were added in the latest month, compared with 428,000 in April. Hannah Miao | CNBC Associate Markets Reporter @HannahMiao_ Watch our live stream for all you need to know to invest smarter. TOP NEWS  Dow jumps 400 points, Nasdaq adds more than 2% to cut two-day losing streak OPEC+ raises output faster than expected as Russia's war roils global energy markets Fed Vice Chair Lael Brainard says it's 'very hard to see the case' for the Fed pausing rate hikes Microsoft lowers fourth-quarter guidance, citing unfavorable foreign exchange rates Tiger Global drops 14% in May during the tech sell-off, pushing hedge fund's 2022 losses to over 50% Find stability in this turbulent market – and a cash payout – with these stocks Job growth seen cooling in May but wage increases were still hot These defensive stocks can protect your portfolio from stagflation, Jefferies says Biden will call for tighter gun laws in televised address Thursday night, following Uvalde and Tulsa massacres Russia takes majority control of key Ukrainian city; Moscow calls U.S. weapons package 'direct confrontation' TOP VIDEO Inflationary pressures have peaked and will come down fairly rapidly, says Wilmington Trust's Shue CNBC PRO The Dow is attempting a rebound, and here are Wall Street's favorite picks to play it SPECIAL REPORTS Sheryl Sandberg sold $1.7 billion worth of Facebook stock over the last decade The IRS is working to increase its audit rates for higher earners Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS