BOSTON, Aug 5 — US stocks and oil prices rebounded this morning as unemployment claims declined and the trade deficit widened, positive economic data in the face of rising Covid-19 cases and signals of declining Federal Reserve stimulus.
The Dow Jones Industrial Average rose 167.64 points, or 0.48 per cent, to 34,960.31, the S&P 500 gained 16.11 points, or 0.37 per cent, to 4,418.77 and the Nasdaq Composite added 61.63 points, or 0.42 per cent, to 14,842.16. The dollar held gains against a basket of currencies this morning after Clarida’s hawkish remarks, trading around 92.282 after hitting an eight-day high of 92.352.
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