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Dow Jones hits another record high as weekly US unemployment claims drop
[MAIL] The Dow Jones Industrial Average soared by 150 points to an all-time high of over 34,500 on Thursday as the US recorded its lowest number of unemployment claims since COVID-19 began. Thursday afternoon saw the Dow hit 34,521.15 - up from a close of 34,245.11 the day before, CNBC reported. The Dow Jones is an index which displays the values of stocks of 30 of the United States' most successful publicly-traded companies. They include Apple, Boeing, McDonald's and 3M, with a rise in their value seen as the bellwether of a healthy economy. But the other major US industrial averages - the S&P 500 and Nasdaq have both suffered losses in recent days, suggesting that further economic trouble could still be in store. The gains came on the heels of this morning's news that US unemployment claims fell from 590,000 to 498,000 last week, according to Labor Department figures released Thursday. That is the lowest number of unemployment claims since the pandemic sent the American economy into a tailspin last March. Posted by: Besoeker 2021-05-07 |
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