Dow up nearly 300 points as jobless claims data deemed ‘welcome news for the Fed’
U.S. stocks bounced back in early trading on Thursday, after the Nasdaq nearly hit a 30-month low a day...
U.S. stocks bounced back in early trading on Thursday, after the Nasdaq nearly hit a 30-month low a day earlier, as the market looked set to erase some of its recent losses on the second-to-last trading day of the year.
The main indexes built on premarket gains after U.S. weekly jobless claims data showed the number of workers receiving benefits has climbed to the highest level since February, a sign that the Federal Reserve’s interest-rate hikes might be slowing economic growth and inflation.
The S&P 500SPX, 1.35% rose 51 points, or 1.3%, to 3,834.
Dow Jones Industrial AverageDJIA, 0.87% added 269 points, or 0.8%, to 33,145.
Nasdaq CompositeCOMP, 1.88% climbed 190 points, or 1.9%, to 10,403.
Russia launches another massive missile attack on Ukraine
KYIV, Ukraine (AP) — Multiple regions of Ukraine, including its capital, faced a massive Russian missile...
KYIV, Ukraine (AP) — Multiple regions of Ukraine, including its capital, faced a massive Russian missile attack Thursday, the biggest wave of strikes in weeks targeting power stations and other critical infrastructure during freezing weather.
Air raid sirens rang out across the country. Ukraine’s military chief, Gen. Valerii Zaluzhnyi, said preliminary reports showed Russia fired 69 missiles at energy facilities and Ukrainian forces shot down 54 of them. Several people were wounded, although there were no immediate reports of any deaths.
The widespread attack was the latest in a series of Russian strikes on power and water supplies that have increased the Ukrainian population’s suffering. Moscow has launched such attacks almost weekly since October while its ground forces struggle to hold ground and advance.
New U.S. unemployment claims hit highest level since February
The numbers: Initial jobless claims rose by 9,000 to 225,000 in the week ended December...
The numbers: Initial jobless claims rose by 9,000 to 225,000 in the week ended December 24 , the U.S. Labor Department said Thursday.
Economists polled by The Wall Street Journal had estimated new claims would rise 7,000 to 223,000 after claims rose 2,000 to 216,000 in the prior week.
Key details: The number of people already collecting jobless benefits rose by 41,000 to 1.71 million. This is the highest level since last February. Continuing claims are a sign that it is taking more time for workers to find new jobs after they have been laid off.
Big picture: Experts see some signs of cooling in the labor market, but not enough to stop the Federal Reserve from moving interest rates higher next year.
Overall, economists don’t read too much into claims around the holiday season. But it remains clear that companies are not laying off workers despite talk of a recession.
Oil prices edged lower on Wednesday but are hopeful of a recovery in fuel demand as China continues to...
Oil prices edged lower on Wednesday but are hopeful of a recovery in fuel demand as China continues to ease its COVID-19 restrictions, though gains were capped by recession concerns and restarts at some U.S. energy plants shut by winter storms.
West Texas Intermediate crude dropped 0.07% on a 72-cent fall and settled at $78.96 a barrel in Wednesday’s trading on the New York Mercantile Exchange.
Global benchmark Brent crudefell 1.27% or $1.22 a barrel to close at $83.26 on ICE Futures Europe.
Natural gasfell nearly 11% on a 57-cent slide to $4.71 per 1,000 cubic feet.
⬇️ Dow drops more than 350 points as U.S. stocks end sharply lower
U.S. stocks ended sharply lower Wednesday, with all 11 of the...
U.S. stocks ended sharply lower Wednesday, with all 11 of the S&P 500's sectors falling, as higher interest rates and recession fears continued to weigh on the market as investors near the end of a bruising 2022.The Dow Jones Industrial Average DJIA closed more than 350 points lower, falling 1.1%, while the S&P 500 SPX slid 1.2% and the technology-laden Nasdaq Composite COMP dropped around 1.4%, according to preliminary data from FactSet. Energy was the hardest hit sector of the S&P 500 on Wednesday, down more than 2%. The S&P 500 has tumbled around 20.6% this year, FactSet data show.
