Stock market news today: Stocks pop as focus fixes on jobs data

U.S. stocks rose on Thursday as investors turned to labor market data again for signs on the path of interest rates.

The Dow Jones Industrial Average (^DJI) lagged the other major averages, up about 0.2%. Meanwhile, the S&P 500 (^GSPC) rose 0.5% and the Nasdaq Composite (^IXIC) pointed to a rebound in technology stocks, rising 0.8%.

Signs this week that the labor market is finally getting back to normal They point out that the Federal Reserve's anti-inflationary interest rate hikes have had the desired impact. Given the probability of a soft landing for the economy, Traders have been betting. about a Fed policy change to cut rates.

Read more: What the Fed's pause in rate hikes means for bank accounts, CDs, loans and credit cards

But market nerves got nervous Thursday after Bank of Japan leaders hinted that the end of the central bank's negative interest rate regime is near. That prospect helped drive the 10-year Treasury yield (^TNX) up to 8 basis points, up to 4.18%.

Adding to the caution was growing speculation that stocks are set for a pause after their dizzying November rally, as December is usually a "boring" month for the markets.

The latest weekly jobless claims data revealed that 220,000 claims were filed in the week ending December 2. The figure was in line with what economists surveyed by Bloomberg expected and was only 2,000 more than the previous week, largely reflecting limited increases in layoffs.

But Friday's crucial monthly U.S. jobs report will be the Real test of inflation and interest rate expectations. ahead of the Federal Reserve's last meeting of the year next week.

In raw materials, oil prices regained some ground after reaching a minimum of five months. West Texas Intermediate Futures (CL=F) and Brent (BZ=F) crude oil futures, the international reference price, both rose around 1%.

  • Stocks open in green

    U.S. stocks rose on Thursday as investors turned to labor market data again for signs on the path of interest rates.

    The Dow Jones Industrial Average (^DJI) lagged the other major averages, up about 0.2%. Meanwhile, the S&P 500 (^GSPC) rose 0.5% and the Nasdaq Composite (^IXIC) pointed to a rebound in technology stocks, up 0.8%.

    The latest weekly jobless claims data revealed that 220,000 claims were filed in the week ending December 2. The figure was in line with what economists surveyed by Bloomberg expected and was only 2,000 more than the previous week, largely reflecting limited increases in layoffs.

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