Shares rose on Thursday as a number of Americans are filing for unemployment benefits for the first time, which will lead to a gradual recovery in the labor market and investors focus on a movement on a potential stimulus bill that is deadlocked in Congress in months.
The Dow Jones Industrial Average rose 156 points, or 0.52%, to 30,040, the S&P 500 rose 0.13% and the Nasdaq rose 0.44%.
Boeing (B.A.) – Get the report The Dow led a higher .1.1% rise after receiving a large order from Dublin-based Ryanair for the airline’s 777 MX jet, which has been in flight since March 2019.
The S&P 500 and Nasdaq traded at record intraday highs during the session on Thursday.
Weak claims were lower than expected last week as companies rented ahead of the holiday season’s significant buying season. The Department of Labor has reported that Nov. In the week ended 28, 712,000 Americans applied for unemployment benefits for the first time, down from 787,000 claims revised the week before.
That was the first drop in three weeks in early unemployment claims. According to data compiled by Bloomberg, the USA Covid-19 was announced just a day after the deadliest day for death. The number of Kovid-19 patients in U.S. hospitals peaked at 100,000 for the first time.
Enthusiasm after Great Britain became the first Western country to approve the Covid-19 vaccine – Pfizer’s shot (P.F.E.) – Get the report And biotech (BNTX) – Get the report – Until the vaccine is widely distributed in the U.S. Was hated by the realization that it could be for a very difficult winter.
The director of the Centers for Disease Control and Prevention warned that total deaths from Covid-19 could reach “close to 450,000” by February, unless Americans take extra precautions.
“The reality is that December and January and February will be rough times,” said Dr. Said Robert Redfield. “I really believe they will be the most difficult time in the nation’s public health history.”
Los Angeles ordered residents to stay home, with Mayor Eric Garcetti warning that the city was approaching a “catastrophic tipping point” in its fight against Covid-19.
On Wednesday, the S&P 500 closed its second straight record after House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer called for the start of stimulus talks. Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Munchin on Wednesday urged Congress to approve the Covid-19 relief bill.
Senate Majority Leader Mitch McConnell said Thursday there are “optimistic signs” that Congress could agree on a coronavirus relief bill before the end of the year.
U.S. Oil prices rose 0.8% to $ 45.64 on Thursday as OPEC leaders, as well as non-member allies such as Russia, agreed to reduce production more slowly than previously planned.
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