The 10-year Treasury bond yield fell back below 4% after the jobless claims data. It should be noted that all three indexes have declined in four of the last five sessions.
All three indices have declined in four of the last five sessions.
NYSE
Wall Street rises this Thursday after new labor market data boosted investor confidence in the U.S. economy following a sharp sell-off in equities earlier in the week.
The S&P 500 rose 1.2%, while the Nasdaq Composite gained 1.3%. The Dow Jones Industrial Average gained 494 points, or 1.3%.
The employment data
Weekly jobless claims were lower than expected, helping to ease some recent concerns about the strength of the labor market.Initial claims for unemployment benefits were 233,000 last week, down 17,000 from the previous week and below the Dow Jones estimate of 240,000, the Labor Department reported Thursday.
The 10-year Treasury note yield fell back below 4% after the jobless claims data, a level seen before the disappointing July jobs report sent markets reeling.
Also helping markets in this session was a fall in the Japanese yen against the US dollar. Pharmaceutical giant Eli Lilly is up around 9% after posting better-than-expected earnings and raising its full-year outlook due to strong demand for diabetes treatment Mounjaro and obesity drug Zepbound. Meanwhile, Warner Bros, Discovery and Bumble are down after reporting lower-than-expected second-quarter revenue results.
The moves come after stocks failed to sustain an early rally on Wednesday, fueling concerns that the factors that caused Monday’s sell-off have not gone away. The S&P 500 fell 0.8% and the Nasdaq Composite sank 1.1%. The 30-stock Dow lost 0.6%. All three indices have declined in four of the last five sessions.
Source: Ambito
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