PARIS, March 9 (Archyde.com) – The New York Stock Exchange rose in early trading on Thursday following news of a bigger-than-expected rise in jobless claims to more than 200,000, allaying fears over rising jobless claims. interest rate.
The Dow Jones index gained 132.05 points, or 0.4%, to 32,930.45 points and the broader Standard & Poor’s 500 rose 0.35% to 4,005.99 points.
The Nasdaq Composite took 0.31%, or 35.53 points, to 11,611.534.
Index futures erased their losses following the Labor Department announced 211,000 jobless claims last week, a stronger than expected rise following two weeks of decline.
US Treasuries yields trended lower and the dollar widened its losses in reaction to this statistic.
“A lot of traders are breathing a sigh of relief as the jobs market is starting to ease,” Edward Moya at OANDA said.
Several indicators have recently suggested that the labor market remains tight, which, along with Federal Reserve Chairman Jerome Powell’s “hawkish” remarks to Congress this week, have heightened fears that the institution is accelerating the pace of its monetary tightening. .
The financial markets will follow Friday with increased attention the monthly figures on employment in the United States.
The estimated probability of a half-point Fed rate hike this month is around 75%, according to CME Barometer FedWatch.
On the stock market, Silvergate Capital plunged 37.24%, the bank specializing in cryptocurrencies having announced that it planned to end its activities and a voluntary liquidation.
General Electric advanced 6.52% as the industrial conglomerate confirmed its profit forecast for 2023.
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(Laetitia Volga, edited by Blandine Hénault)
