"The market seemed to appreciate that the jobs report showed a modest increase in continuing unemployment claims, in line with expectations and providing a nugget of evidence that a soft landing is possible," said Jason Blackwell, chief investment strategist at The Colony Group. That was an increase of 9,000 from the previous week and slightly above the 223,000 estimate from Dow Jones. The market pushed higher early Thursday after the Labor Department reported an increase in jobless claims from last week, amid Federal Reserve efforts to cool the economy and in particular the labor market.įirst-time filings for unemployment benefits totaled 225,000 for the week ended Dec. "We'll have further volatility into the new year with plenty of uncertainty about whether a soft landing is possible and if not how much resolve the Fed will have to not pivot if we tip into a serious recession."Īpple shares rebounded after four consecutive days of losses, rising 2.83%. "We were overdue for a rebound, and a lot of the recent weakness may be explained by further tax-loss selling once the Santa Rally didn't materialize," he said. Louis Navellier, founder and chief investment officer of growth investing firm Navellier & Associates, called Thursday's moves an "abbreviated one-day version of a Santa Rally." Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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