Stocks Gain as a Jump in U.S. Jobless Claims Eases Hawkish Fed Concerns

What you need to know… The S&P 500 Index ($SPX) (SPY) today is up +0.46%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.42%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.90%. U.S. stock indexes this morning are moderately higher. A larger-than-expected increase in weekly U.S. jobless claims knocked bond yields lower and eased concerns that a hot labor market would force the Fed to keep aggressively raising interest rates. The 10-year T-note yield is down -2.0 bp to 3.972%. U.S. weekly initial unemployment claims rose +21,000 to a 2-1/4 month high of 211,000, showing a weaker labor …

Read More