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

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US stocks rise as investors assess softer employment data and brace for key jobs report

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.

 

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

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