Nasdaq, S&P 500 end 2% higher on US jobless data

Quick Summary:

US stocks jumped on Thursday, with the Nasdaq and S&P 500 each ending more than 2% higher after jobless claims fell more than expected in the latest week, soothing worries the labor market was weakening too quickly.

Traders also cited an unwinding of positions of carry trades, where investors borrow money from economies with low interest rates to fund their bets in high-yielding assets elsewhere.

Volume on US exchanges was 11.98 billion shares, compared with the 12.60 billion average for the full session over the last 20 trading days.

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Category: EconomyBusiness

Markets: Malaysia

Topics: MarketVolatility /Business/ USStocks StockMarketRally Markets TechStocks EarningsSeason JoblessClaims NasdaqSurge

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-09 @ 07:02:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 526 words

Reading Time: 3 minutes read

Sentences: 22 lines

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Copyright Owner: © The Star

News ID: 21992891

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