U.S. stocks rally due to a fall in jobless claims

U.S. Stocks Rise as Jobless Claims Fall to 3-Month Low

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  • U.S. stocks rallied as Initial jobless claims fell 26,000 to 323,000 — the lowest level in three months — in the week ended March 1. Economists were looking for jobless claims of 335,000. Which shows jobs are being added to the market.
  • Stocks extended gains after US made a deal to send aid package Ukraine to ease tensions between Ukraine and Russia.
  • The Dow Jones Industrial Average was gaining 0.49% to 16,440.23 while theS&P 500 was up 0.31% to 1,879.40. NasDaq reversed its gains after the biotechnology and pharmaceuticals were the biggest losers on the index on Thursday, and closed down 5.85 points, or 0.1%, at 4,352.13.
  • Gold futures rose 0.8% to settle at $1,351.70 a troy ounce, while crude-oil futures gained 0.1% to settle at $101.56 a barrel. Brent crude Oil rose 0.3 percent, to $108.10 a barrel.

Categories: Equity Capital Markets

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