U.S. stock indexes opened higher on Thursday after two consecutive days of losses. Investors are carefully considering the latest comments from the Federal Reserve regarding future interest-rate hikes.
Nasdaq Composite and S&P 500 Rise
The Nasdaq Composite is up by 0.4%, while the S&P 500 has seen a 0.3% increase.
Dow Jones Industrial Average Makes Solid Gains
The Dow Jones Industrial Average has risen by 109 points, or 0.3%, reaching 34,870.
Treasury Yields Climb
Treasury yields have continued to advance, with the 10-year yield seeing an increase of 2 basis points, reaching 4.29%. This marks the highest level since the 2008 financial crisis.
Strength in Labor Market Highlighted
In U.S. economic news, the number of Americans applying for unemployment benefits last week decreased by 11,000 to 239,000. This emphasizes the robustness of the labor market and the remarkably low number of layoffs occurring in the economy. The government reported that new jobless claims have dropped from a revised 250,000 in the previous week.
Positive Outlook for Regional Business Activity
The Philadelphia Federal Reserve has reported an increase in its gauge of regional business activity. In August, the reading rose to 12 from a negative 13.5 in the previous month. This is the first positive reading after 11 straight months of contraction. Any reading above zero indicates expanding activity.
Walmart Inc. Reports Strong Earnings
Despite overall positive market trends, the shares of retail giant Walmart Inc. have seen a slight decline of 0.1%. However, the company reported an earnings and revenue beat in the fiscal second quarter.
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