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U.S. stock indexes rose Thursday morning, with the benchmarks staging a modest rebound after an equities selloff tied to a surge in bond yields pushed the tech-heavy Nasdaq Composite into correction territory a day ago.
-
The Nasdaq Composite Index
COMP,
+1.63%
was trading 1.1% higher at 14,500. -
The Dow Jones Industrial Average
DJIA,
+0.94%
gained over 200 points, or 0.6%, to 35,219. -
The S&P 500 index
SPX,
+1.09%
advanced 30 points, or 0.7%, to trade at 4,562. - On Wednesday, the Dow Jones and S&P 500 each dropping around 1%, while the Nasdaq Composite shed 1.2%, leaving it down more than 10% from its record close in November and meeting the definition of a market correction.
Wall Street was digesting corporate earnings but also poring over economic reports for guidance on the health of the economy and the investing market that has been buffeted by the prospect of higher interest rates.
In U.S. economic, first-time jobless claims unexpectedly rose by 55,000 last week to 286,000, compared with expectations for 225,000, likely reflecting the effect of the spread of the omicron variant of the coronavirus that causes COVID-19. The Philadelphia Fed’s manufacturing index rose to 23.2 in January from 15.4 in December.
Meanwhile, markets also are paying attention to geopolitical worries, with Russia stationing troops along the border of Ukraine.
In corporate news, shares United Airlines Holdings Inc.
UAL,
of American Airlines Group Inc.
AAL,
rose after both reported narrower-than-expected losses and amid omicron.
