Friday, 28 May 2021

Markets higher as US jobless claims hit pandemic low

Markets were mostly higher on Thursday.

The S&P 500 rose 0.1 percent, the STOXX Europe 600 rose 0.3 percent and the Shanghai Composite rose 0.4 percent.

However, the Nikkei 225 fell 0.3 percent.

A report in the US on Thursday showed that initial jobless claims fell to 406,000 in the week ended 22 May, a new pandemic low.

“As the U.S. economy progresses with its vaccination program and reopening measures, employment and labor force participation are expected to pick up in the coming months,” said Ali Jaffari, head of North American capital markets at Validus Risk Management.

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