5/14, 10:00 PM (Source: TeleTrader)
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Dow gains over 350 pts as banking sector rallies

Trading on Wall Street finished in the green on Thursday with the Dow Jones jumping over 350 points at the close.

The banking sector led stocks higher despite today's initial jobless claims data, which pointed to a continued crisis in the US labor market due to the coronavirus pandemic. Over the last eight weeks, nearly 36.5 million Americans have filed for jobless benefits.

The Dow Jones closed 377 points in the green as American Express led the gains as it surged over 7%. The S&P 500 jumped 1.15% at the closing bell, while the Nasdaq 100 gained 1.05%. Wells Fargo soared nearly 7%, JPMorgan and Bank of America rose over 4%, while Goldman Sachs added 1.54% at the end of trading.

Breaking the News / JC