Stocks climb after jobless claims hit the lowest point since the coronavirus outbreak
- All major US equity indexes climbed on Thursday as weekly jobless claims fell to their lowest since the start of COVID-19 pandemic.
- The Federal Reserve was still in mind on Wall Street as policy makers discussed tapering bond buys.
Major US stock indexes gained on Thursday after weekly jobless claims fell to their lowest level since the coronavirus crisis began. The increases marks a reversal of three straight days of declines for the
The Labor Department's report showed new jobless claims totaling an unadjusted 444,000 last week. Jobless claims had been expected to rise to 450,000 claims, according to a median estimate from economists surveyed by Bloomberg.
Here's where US indexes stood at 9:50 a.m. on Thursday:
- S&P 500: 4,138.35, up 0.6%
- Dow Jones Industrial Average: 33,971.94, up 0.2% (76 points)
- Nasdaq Composite: 13,432.88, up 1%
Continuing claims tracking Americans receiving unemployment benefits leapt to 3.75 million, higher than the 3.63 million estimate. Meanwhile, factory activity in May has been slower than expected in the mid-Atlantic region. The Philadelphia Fed Manufacturing Index's reading of 31.5 was below the Econoday estimate of 45.0.
Gold rose 0.5% to $1,879.18 per ounce. Long-dated US Treasury yields fell, with the 10-year yield at 1.65%.
Oil prices fell. West Texas Intermediate crude lost as much as 1.9%, to $62.19 per barrel.
Bitcoin rose as much as 11%, to $42,540.97.
- Toyota was right about hybrid cars all along
- The youngest son of Asia's richest man is getting married, and the pre-wedding event features Rihanna, a 9-page dress code, and live animals
- Check out some of the best and most daring looks at Ambani's pre-wedding bash — from Rihanna to Mark Zuckerberg
- Bengaluru cafe blast: Karnataka CM Siddaramaiah to chair meeting with top police officials today
- India retains full policy space for benefit of farmers, fishermen at WTO: Goyal
- Sensex, Nifty settle at new closing high levels in first part of special live trading session
- Passive Income Streams
- Gas stoves create more nanoparticle pollution than a busy street with diesel and gas cars, study finds