US stocks moved higher on Thursday, recovering from Wednesday’s sell-off, after weekly jobless claims fell to their lowest level in 52 years.
Jobless …
US stocks moved higher on Thursday, recovering from Wednesday’s sell-off, after weekly jobless claims fell to their lowest level in 52 years. Jobless claims fell to 187,000 last week, down 28,000 from the previous week and ahead of economist’s estimates of 210,000. Filings hit the lowest level since September 1969, highlighting the underlying strength of a job market that is still recovering from the COVID-19 pandemic. Meanwhile, commodity prices cooled on Thursday, with oil prices falling more than 2%. The drop in oil came on the same day President Joe Biden traveled to Europe to meet with other Western countries regarding the ongoing invasion of Ukraine by Russia, and called for Russia to be removed from G20.
