S&P rises over 2%, the best in nearly two years, with chip stocks up about 7%, Nasdaq and Chinese stocks up 2.8%, and US Treasury yields and the yen falling for three consecutive days.
The latest employment data alleviates concerns over the US economy, and US stocks rose more than 1.7%. Nvidia's stock rose more than 6%, and Tesla, Alibaba, PDD Holdings, and Tencent ADR rose more than 3%. Bullish on weight loss drug reports, Eli Lilly and Co's stock rose more than 13%, and Novo-Nordisk A/S's US stock rose nearly 8%. The 10-year US Treasury yield rose above 4%, and short-term bond yields rose by 10 basis points. Oil prices rose for the third consecutive day, gold halted its five-day decline, and digital currency had a big increase.
Hidden Bargains: 3 Large-Cap Stocks Trading Over 30% Below Their 52-Week Highs
The first-time application for unemployment benefits in the USA saw the largest decline in nearly a year, which will help ease employment concerns.
The number of initial jobless claims in the United States reached the largest drop in nearly a year last week, which may alleviate concerns about the labor market cooling down too quickly after the disappointing employment report released last week. According to data released by the US Department of Labor on Thursday, the number of initial jobless claims decreased by 17,000 to 233,000 in the week ending August 3. This is thanks to the recent decline in the numbers of states such as Michigan, Missouri, and Texas, where the number of applications has recently increased significantly. As of the week ending July 27, the number of continuing jobless claims rose slightly to 1.88 million. Indicators: actual estimate of initial jobless claims.
Top Gap Ups and Downs on Wednesday: NVO, SHOP, ABNB and More
What's Going On With Dell Technologies Stock Today?
Express News | Dell Technologies Shares Are Trading Lower Wednesday in Possible Sympathy With Super Micro Computer, Which Fell After the Company Reported Fourth-quarter Financial Results
