US stocks volatile as jobless claims remain high

News24
21 May 2020, 19:42 GMT+10

Wall Street stocks edged higher early Thursday in volatile trading following another high US jobless claims report and as US-China friction rises, sharpening concerns of another trade war.

About 15 minutes into trading, the Dow Jones Industrial Average was up 0.3% at 24 660.66 after opening in the red.

The broad-based S&P 500 also added 0.2% at 2 976.78, while the tech-rich Nasdaq Composite Index rose 0.3 percent to 9 403.66.

The Labor Department reported that another 2.43 million US workers applied for unemployment benefits last week, bringing the total since mid-March to a massive 38.6 million following coronavirus shutdowns.

After bottoming out in March as much of the US economy suddenly shut down, stocks have mostly risen in April and May as Washington has enacted aggressive stimulus measures.

But investors increasingly view tensions between Washington and Beijing as a risk to stocks in the coming months, as US President Donald Trump loudly blames China for the coronavirus outbreak that has claimed more than 90,000 American lives.

Beijing's latest response came a day after Trump blamed China for "mass worldwide killing" in a tweet.

Chinese foreign ministry spokesman Zhao Lijian told a press briefing, "We have persisted in speaking the truth, presenting the truth and speaking with reason, doing our utmost to protect the lives and health of the people."

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Breaking Property News.

More Information

null in null

Business

Section

Wall Street extends rally, Standard and Poor's 500 hits new high

NEW YORK, New York - U.S. stock markets closed firmly in positive territory to start the week Monday, with the S&P 500 and Dow Jones...

Canadian tax on US tech giants dropped after Trump fury

WASHINGTON, D.C.: On Friday, President Donald Trump announced that he was halting trade discussions with Canada due to its decision...

Trump-backed crypto project gets $100 million boost from UAE fund

LONDON, U.K.: A little-known investment fund based in the United Arab Emirates has emerged as the most prominent public backer of U.S....

DIY weight-loss drug trend surges amid high prices, low access

SAN FRANCISCO, California: Across the U.S., a growing number of people are taking obesity treatment into their own hands — literally....

Apple allows outside payment links under EU pressure

SAN FRANCISCO, California: Under pressure from European regulators, Apple has revamped its App Store policies in the EU, introducing...

Euro, pound surge as U.S. rate cut odds grow after Powell hint

NEW YORK CITY, New York: The U.S. dollar tumbled this week, hitting its lowest levels since 2021 against the euro, British pound, and...

Construction

Section