new York After the sell-off of the past few days, Wall Street is on the up again. The Dow Jones index of standard values closed 0.6 percent higher on Thursday at 33,781 points. The tech-heavy Nasdaq advanced 1.1 percent to 11,082 points. The broad S&P 500 gained 0.8 percent to 3963 points.
“Markets appear to have found a small window of opportunity for a recovery rally ahead of next week’s inflation data as they were oversold,” said Dennis Dick, analyst and trader at broker Triple D Trading
The reason is the weekly initial jobless claims, which rose to 230,000 from 225,000 in the previous week. “This data shows that the labor market is weakening,” said Thomas Hayes, a manager at wealth manager Great Hill. “However, it is only one piece of data that could persuade the US Federal Reserve to slow down rate hikes. The data between December and February will be decisive for their longer-term monetary policy.”
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