The Dow and S&P 500 rallied Wednesday after a modestly positive jobless claims report fueled investor's confidence in the future. Image: The Web President.
The report, which showed a modest dip in initial jobless claims, was better than what a poll of economists had predicted. The economists, who were polled by Thompson Reuters, had predicted 465,000 initial jobless claims in the month ending July 3; the number the Labor Department released was 454,000.
The four-week average of initial claims also fell 1,250 to 466,000, the Labor Department said on its website.
Also, after the International Monetary Fund raised its 2010 world growth estimate to 4.6% from 4.2%, international markets rallied. The S&P 500 rallied along with the Dow, up 3.13% to 1,060.27. However, the Nasdaq stayed flat at 2,159.47.
This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
