Stocks – Wall Street Opens Higher as Jobless Rise Starts to Relent

This post was originally published on this site — U.S. stock markets bounced at the opening on Thursday after weekly data on jobless claims showed a slight improvement from the gut-wrenching increases of recent weeks. 

By 9:35 AM ET (1335 GMT), the Dow Jones Industrial Average was up 31 points or 0.1% at 23,536 points. The S&P 500 was up 0.2% and the Nasdaq Composite was up 0.8%. All three had fallen heavily on Wednesday in response to figures that showed acute drops in retail sales and industrial production in March.

The Bureau of Labor Statistics said earlier that 5.245 million Americans filed initial claims for jobless benefits last week, down from the previous week’s 6.62 million. The number of continuing claims came in comfortably below economists’ forecasts at 11.98 million.

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