(AXcess News) New York – the Department of Labor reported that weekly unemployment claims fell 5000 to 330,000 from the previous week’s unrevised figure of 335,000. The 4-week moving average was 351,750,a decrease of 8,250 from the previous week’s revised average of 360,000.
The market was expecting to see jobless claims rise to 360,000,but apparently business owners decided to keep employees while some out-of-work Americans were able to find gainful employment.
That news helped to boost the Dow over 65 points in late-morning trading in New York Thursday while the NASDAQ gave up over 6.3 basis points in contrast. The S&P 500 climbed 6.65% basis points.
The dollar held its own against the euro,though the European currency manage to climb 0038. Oil held its gains of 0.88 to trade at 96.01 per barrel and gold fell $16.60,or 0.98%,to trade at 1670.1 in New York.