Stock market news today: Jobless claims come in higher than expected

US stocks rose Thursday following higher-than-expected jobless claims data and ahead of Friday's key nonfarm payrolls report.

Initial filings for unemployment clocked in at 211,000 last week, up by 21,000 and above the Dow Jones estimate of 195,000. That could be a sign of possible cooling in the labor market, potentially taking some pressure off the Federal Reserve to get more aggressive on policy. It follows Fed Chair Jerome Powell's testimony on Capitol Hill this week that stronger-than-expected economic data opens the door to a steeper interest rate hiking path.

Anybody know what this means for forex? Will US Dollar rise or fall in the short term?

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U.S. stocks open higher as investors weigh data showing rise in weekly jobless claimsU.S. stocks opened modestly higher Thursday as investors digested a report showing a weekly rise in jobless claims. The Dow Jones Industrial Average was up 0.4% soon after the opening bell: $pypl ready to dump How doesn’t expect a recession to buy stocks? 😂😂 Everything is so facked up
Source: MarketWatch - 🏆 3. / 97 Read more »