S&P snaps losing streak on jobless claims rise
STORY: The S&P 500 closed higher on Thursday, snapping a five-session losing streak...
Wall Street's main indexes had come under pressure in recent days on expectations of a longer rate-hike cycle and downbeat economic views from some top company executives.
But Thursday, a rise in weekly jobless claims was interpreted by investors as a sign the Fed could soon slow the pace of interest rate hikes.
The Dow closed up more than half a percent, the S&P gained three-quarters of a percent and the Nasdaq climbed more than 1.1%.
Sylvia Jablonski, CEO and chief investment officer of Defiance ETFs, expects stocks to be stuck in a tight trading range for now.
"Here we are again with a little bit of additional data showing us that there is weakness in the economy and perhaps inflation will come down for that reason. But I think overall markets are going to be directionless for some time. [FLASH] I think we'll have some pullbacks and then we'll have some pops off of those pullbacks. But they'll probably stay in a trading range because we need to get past the next earnings season. [FLASH] So I do think that there's not a whole lot to make of the day to day movements from here on in. I think it's going to be kind of sleepy couple of months, might get some rallies in between. But we have some, we have some time before we get to the point that the Fed just stops and that, you know, we start seeing that earnings were resilient enough for us to sort of move on up and start trending upward."
Among Thursday’s gainers, most mega-cap technology and growth stocks rose, such as Apple, Nvidia and Amazon.com.
The e-commerce giant made a bold move by announcing Thursday that it will roll out a TikTok-like feed on its app, hoping to attract new shoppers through a stream of photos and videos from their favorite influencers.
Amazon had weeks ago warned of a slow holiday season amid decades-high inflation.
In other tech news, Microsoft closed higher after the Federal Trade Commission filed a complaint aimed at blocking the tech giant's $69 billion bid to buy Activision Blizzard, maker of the popular "Call of Duty" games.
And in pharmaceutical stocks, Moderna advanced after the U.S. Food and Drug Administration authorized COVID-19 shots from the vaccine maker that target both the original coronavirus and Omicron sub-variants for use in children as young as six months of age.
The FDA also approved similar guidance for fellow COVID vaccine maker Pfizer and its partner BioNTech, which both ended higher.
相關影片推薦
- 1:18美馬戲團大象逃脫 穿梭車陣民眾驚呼 馬路秒變野生動物園Yahoo奇摩(國際通)32,377 次觀看・1 天前
- 6:11強震來臨這3個縣市最危險 李鴻源曝災防都更因「票房毒藥」難行今天誰來沛267,377 次觀看・1 天前
- 1:53加拿大史上最大黃金盜竊案逮6人 加航「內鬼」偽造空運單 400公斤黃金恐已熔化售出Yahoo奇摩(國際通)37,848 次觀看・1 天前
- 1:13柯建銘質詢一半突喊「我看不到」計時器 透露眼睛病變華視影音8,240 次觀看・1 天前
- 2:02英國女遊台南「喝全糖珍奶」 嚇壞驚呼:天大錯誤華視影音315,231 次觀看・2 天前
- 1:1126歲抗癌網紅因胃癌去世 生命最後5個月沒吃沒喝娛樂星聞60,621 次觀看・3 天前
- 1:15謝和弦不認偷吃陳芳語嗆前妻記錯人!自爆出軌對象是「她」秒遭Keanna打臉娛樂星聞16,767 次觀看・1 天前
- 23:55台積電法說會登場 投資人關心加碼美國新廠風險 但面對拜登和川普搶當美國保護主義隊長 川普幕僚密謀促貶美元 拜登祭301調查要提高中國商品關稅 台積電等於買了保險|鏡轉全球 #鏡鏡新聞1,195 次觀看・1 天前
- 1:17情侶吵架「氣到跳車」 女友摔翻滾5圈慘死|#鏡新聞鏡新聞2,607 次觀看・2 天前
- 1:41土耳其「身障狗狗列車」出動 天天載毛孩外出兜風、感受世界風光Yahoo奇摩(國際通)63,000 次觀看・1 天前