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US stocks gain as stimulus optimism offsets the biggest jobless-claims surge since March

11 days ago   |   By Business Insider

REUTERS/John Gress
US stocks gained on Thursday as a surge in weekly jobless claims was offset by optimism around President-elect Joe Biden's stimulus plan. Weekly jobless claims of 965,000 represented the biggest increase since March and the highest level since August. Democrats are weighing a potential multi-trillion-dollar stimulus bill that would combine infrastructure spending and COVID-19 relief legislation into a single bill. Sign up here our daily newsletter, 10 Things Before the Opening Bell. US stocks gained on Thursday as a surge in weekly jobless claims was offset by hopes of a...
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US weekly jobless claims jump the most since March as America's labor-market recovery falters

11 days ago   |   By Business Insider

Marcelo Hernandez/Getty
New US jobless claims for the week that ended Saturday totaled 965,000, the Labor Department said Thursday , signaling the labor market's rebound weakened through the end of the holiday season.
Economists surveyed by Bloomberg expected a reading of 800,000 claims.
The data shows a sizable increase from the previous week's revised number of 784,000. The jump was the biggest since March.
Continuing claims, which track Americans receiving unemployment benefits, gained to 5.3 million for the week that ended January 2. That's above the consensus economist forecast of 5.3...
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