Wall Street Climbs as Jobless Data Spurs Rate Cut Hopes Among Investors

Wall Street Climbs as Jobless Data Spurs Rate Cut Hopes Among Investors

The US stock market closed higher on May 9 after weekly jobless claims data offered investors fresh hope for interest rate cuts. The Dow climbed nearly 0.9%, marking its seventh straight day of gains. The S&P 500 also gained 0.5%, and the Nasdaq rose 0.3%. The weekly jobless claims data showed an increase, with the number of Americans filing new claims for unemployment benefits rising by 231,000 last week. This data follows slow job growth in April and a decrease in job openings. Investors see this as a sign that the US economy is cooling down, renewing expectations that the US Federal Reserve will cut interest rates. Analysts say lower rates will boost business and consumer spending.

---

Wall Street | United States | Jobs | Nasdaq | Federal Reserve | Stocks | Firstpost | News Live | World News | Latest News | Global News | International News | News | Trending News

#wallstreet #unitedstates #jobs #nasdaq #federalreserve #stocks #firstpost #newslive #worldnews #latestnews #globalnews #news #internationalnews #trendingnews

Firstpost is an Indian news and media website. Get all the incisive opinions, in-depth analyses and other visual stories that matter to you and the world right here on this channel.

Subscribe to Firstpost channel and press the bell icon to get notified when we go live.
   / @firstpost  

Follow Firstpost on Instagram:
  / firstpost  

Follow Firstpost on Facebook:
  / firstpostin  

Follow Firstpost on Twitter:
  / firstpost  

Follow Firstpost on WhatsApp:
https://www.whatsapp.com/channel/0029...