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Stock market today: Stocks rise as Dow tries to extend 6-day win streak

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Unemployment Claims

Stocks have lost their bounce after a growing chorus of Federal Reserve officials made it clear that interest rates will need to stay higher for longer.

US stocks rose on Thursday as a fresh earnings batch provided mixed results and a reading on unemployment claims showed evidence that the labor market continues to cool. The Dow Jones Industrial Average rose about 0.4% in an effort to extend a six-day winning streak. The S&P 500 gained 0.2%, while the tech-heavy Nasdaq Composite rose 0.1%.

However, initial weekly jobless claims data released on Thursday came in at 231,000, an increase of 22,000 from the prior week and the highest level since August. The latest Department of Labor print signals the job market continues to slow. Read more: How does the labor market affect inflation? Meanwhile, a downbeat annual revenue forecast from Arm cast doubt on the hopes for AI growth that have boosted chip stocks.

 

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