U. S. stock market rising after two days of falling
2023.03.09 11:59
U. S. stock market rising after two days of falling
By Kristina Sobol
Budrigannews.com – After jobless claims data came in higher than expected, U.S. stocks rose.
The was up 50 points, or 0.2 percent, at 10:19 ET (15:19 GMT), the was up 0.2 percent, and the was up 0.4 percent.
The ascent in jobless cases helped ease fears about the Central bank and loan fees. reached a 10-week high of 211,000 last week.
However, the big data report for February will be released on Friday. The economy is expected to add 205,000 jobs in the month, but analysts are also waiting to see if the record-breaking January number is revised.
Jerome Powell, Chair of the Federal Reserve, told Congress this week that the bank was ready to tame However, he stated on Wednesday that as they await the employment data and new inflation reports due next week, their decisions have not yet been made.
After betting a quarter-point increase in rates in February, futures traders have increased their wagers that the Fed will raise rates by half a percentage point later this month.
A sign of expectations for the Fed’s benchmark rate, the Treasury has risen to 5% this week, the lowest level since 2007.
NYSE: Silvergate Capital Corp. was down 34% following the crypto-friendly company’s announcement that it was closing its bank.
NYSE: BJ’s Wholesale Club shares rose 4.4% after the stockroom retailer revealed surprisingly good changed .
Oil surged. were up 0.6 percent to $83.19 a barrel and $77.13 a barrel, respectively. were $1,835, down 0.9 percent.
