Hello readers,
Stocks rose on Thursday, with the Dow Jones Industrial Average extending its winning streak to seven consecutive trading days. The Dow rose 334 points, or 0.85%. The broader S&P 500 joined in, gaining 0.51%, as did the Nasdaq, which added 0.27%. With the week nearing its close, so is first-quarter earnings season. The bulk of S&P 500 components have now reported, and by and large results have been good, as has been companies’ guidance for the current quarter. Worries about the Federal Reserve have been momentarily placed on the backburner. The Labor Department reported that jobless claims picked up last week, which could indicate there is some cooling in the job market. That said, claims figures can be volatile, and economists pointed out that much of the week’s increase was driven by a rebound in claims filed in New York. Further easing rate worries, the government’s sale of $25 billion worth of 30-year Treasurys went well. The yield on the benchmark 10-year Treasury Note fell 0.034 percentage point to 4.448%. It has now fallen in 8 of the past 10 trading days.
Here’s what else Heard on the Street was watching: Live Markets Snapshot Crude oil, Bitcoin USD and gold continuous contract data refresh every time you open this email. Other data are as of market close.
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