Dow Jones closes higher for seventh day in row
NEW YORK, New York — A climb in the weekly U.S. jobless rate to the highest level in nine months perversely sent stocks higher on Thursday. Bad news in this case is driving markets as it means the Fed is given some incentive to opt towards a rate cut later in the year. "A bit of softness in the data gives the Fed a window to follow through with its dovish bias," MRB Partners global strategist Phillip Colmar told CNBC Thursday, indicating that Thursday’s market is taking the claims data as a plus. "A long as bond yields aren’t threatening, it’s a green light. The Fed and the bond market have given a green light together to buy risk, or continue to buy risk," he said. Here are the closing quotes for the key U.S. markets: Standard and Poor’s 500 (^GSPC): The index closed at 5,214.08, rising by +26.41 points, an increase of +0.51 percent, with a trading volume of 1.929 billion. Dow Jones Industrial Average (^DJI): The Dow Jones ended at 39,387.76, gaining +331.37 points, up +0.85 percent, with a trading volume of 300.844 million. NASDAQ Composite (^IXIC): The NASDAQ settled at 16,346.26, advancing by +43.51 points, rising +0.27 percent, with a trading volume of 4.05 billion. U.S. dollar loses steam Thursday after climb in week jobless rate The U.S. dollar retreated Thursday, as sellers took the mantly from buyers who had held steady for a week or so. The greenback lost ground against all the majors. Here are the latest quotes around the U.S. close Thursday: Euro/US dollar (EURUSD): The pair closed at 1.0781, gaining +0.31 percent, as the Euro strengthened against the U.S. dollar. US dollar/Japanese yen (USDJPY): The dollar was priced at 155.43 yen, decreasing -0.03 percent, as the yen gained slightly against the dollar. US dollar/Canadian dollar (USDCAD): The greenback on Thursday traded at 1.3676 Canadian dollars, down -0.32 percent, with the loonie rising. British pound/US dollar (GBPUSD): The British pound settled at 1.2523 against the dollar, increasing +0.21 percent after the Bank of England left interest rates unchanged. US dollar/Swiss franc (USDCHF): The U.S. dollar stood at 0.9058 Swiss francs, losing -0.23 percent, as the franc gained. Australian dollar/US dollar (AUDUSD): The Australian dollar traded at 0.6619 against the dollar, rising +0.61 percent. New Zealand dollar/US dollar (NZDUSD): The New Zealand dollar was valued at 0.6032, increasing +0.48 percent. Global stocks finish mostly higher Thursday — London’s FTSE 100 hits new record high As with the U.S., most stock markets around the world finished with gains on Thursday. The main buying action was in the UK, while the sellers hung out in Tokyo, Sydney, Seoul, and Mumbai. Here are the closing quotes for the main indices around the world: CANADA S&P/TSX Composite index (^GSPTSE): The S&P/TSX in Toronto closed at 22,375.83, gaining +116.67 points, up +0.52 percent, with a volume of 207.127 million. UNITED KINGDOM In London, the The FTSE 100 (^FTSE) closed up by +27.30 points, rising +0.33 percent to 8,381.35, a new all-time high, after the Bank of England left official interest rates unchanged as expected. EUROPE ASIA OCEANIA AFRICA MIDDLE EAST