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Wall Street rises as unemployment claims rise

2019-04-25 01:45 pm | Resource: News | No Views : 109

 Wall Street rises as unemployment claims rise

Wall Street started trading on Thursday after 3M and UBS reported earnings before the Nasdaq bell jumped all the way through Microsoft's announcement of its results.

MicroSoft became the third company to reach a market value of one trillion dollars in the United States.

In the data before the bell, the US Census Bureau said US durable goods orders increased in March, and the US Department of Labor reported that initial jobless claims in America rose by 37,000 in the week ending April 20.

US weekly jobless claims rebound more than expected

After first-time jobless claims in the United States at their lowest level in almost 50 years the previous week, the Labor Department released a report on Thursday showing initial jobless claims rebounded more than expected in the week ending April 20.

Initial jobless claims rose to 230,000, an increase of 37,000 from a revised level of 193,000 last week, the report said.

Economists had expected jobless claims to rise to 200,000 of the 192,000 reported the previous week. The biggest increase came after the number of jobless claims in the previous week was the lowest level since reaching 182,000 in September 1969.

US durable goods orders rose 2.7% in March

New orders for durable goods manufactured in the United States rose 2.7 percent, or $ 6.8 billion in March, to $ 258.5 billion, the US Census Bureau said in a statement on Thursday. This figure follows a 1.1% decline in February, representing growth for the last quarter of the previous five months.

Excluding transport, orders for new durable goods rose by 0.4% in March, while excluding defense, the figure rose by 2.3%. Transportation equipment led the growth in March, rising 7.0% to $ 93.8 billion. Durable goods shipments rose 0.3% in March, following the same increase the previous month. Durable goods inventories rose 0.3% to $ 420.5 billion.

Non-defense orders for capital goods rose 6.5% to $ 80.5 billion. Shipments totaled $ 79.0 billion in March, unchanged from the previous month.

US Stocks Open
  • The Dow Jones Industrial Average was down 0.68% at the start of the day.
  • The Nasdaq 100 rose 0.82% at 9:30 am EST as Facebook and Microsoft led the index higher.
  • The S & P 500 was flat, rising 0.03% at 15:30 CET.

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