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Published on 9 May 2024 on Benzinga via Yahoo Finance

Stocks Rebound As Rising Jobless Claims Sustain Rate-Cut Hopes, Dollar Falls, Gold Rallies: What's...

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Stocks Rebound As Rising Jobless Claims Sustain Rate-Cut Hopes, Dollar Falls, Gold Rallies: What's Driving Markets Thursday?

Wall Street is seeing a day of gains as all major indices traded in the green around noon in New York, driven by a surprising uptick in unemployment claims prompting speculation over Federal Reserve interest rate cuts.

Jobless benefits rose from 209,000 to 231,000 in the week ending May 4, surpassing market expectations of 210,000 and reaching the highest level in eight months.

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