12/7/2023, 3:30 PM (Source: TeleTrader)
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US opens higher after labor market data

Major stock equities on Wall Street opened higher on Thursday as market participants dissected the latest influx of data on the country's labor market.

Initial jobless claims in the United States grew less than anticipated, while job cuts jumped 24% in November compared to the month before, seemingly supporting the narrative of a softer labor market that could lead the Federal Reserve to conclude its monetary tightening cycle this year. After the closing bell, Broadcom will post its fourth-quarter earnings report.

The Dow Jones Industrial Average added 0.21% with Apple Inc. going up by 1.02%. The Nasdaq 100 jumped 0.66% and the S&P 500 increased 0.46% as Alphabet Inc.'s Class C shares surged 4.79%.

The euro gained 0.16% against the greenback, to change hands at 1.07794 at 9:26 am ET.

Baha Breaking News (BBN) / AB