US stocks volatile as jobless claims remain high

News24
21 May 2020, 19:42 GMT+10

Wall Street stocks edged higher early Thursday in volatile trading following another high US jobless claims report and as US-China friction rises, sharpening concerns of another trade war.

About 15 minutes into trading, the Dow Jones Industrial Average was up 0.3% at 24 660.66 after opening in the red.

The broad-based S&P 500 also added 0.2% at 2 976.78, while the tech-rich Nasdaq Composite Index rose 0.3 percent to 9 403.66.

The Labor Department reported that another 2.43 million US workers applied for unemployment benefits last week, bringing the total since mid-March to a massive 38.6 million following coronavirus shutdowns.

After bottoming out in March as much of the US economy suddenly shut down, stocks have mostly risen in April and May as Washington has enacted aggressive stimulus measures.

But investors increasingly view tensions between Washington and Beijing as a risk to stocks in the coming months, as US President Donald Trump loudly blames China for the coronavirus outbreak that has claimed more than 90,000 American lives.

Beijing's latest response came a day after Trump blamed China for "mass worldwide killing" in a tweet.

Chinese foreign ministry spokesman Zhao Lijian told a press briefing, "We have persisted in speaking the truth, presenting the truth and speaking with reason, doing our utmost to protect the lives and health of the people."

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Asia Pacific Star.

More Information

null in null

Asia

Section

Thousands gather in Himalayas as Dalai Lama celebrates 90th birthday

DHARAMSHALA, India: The Dalai Lama turned 90 on July 6, celebrated by thousands of followers in the Himalayan town of Dharamshala,...

Beijing hits back at EU with medical device import curbs

HONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...

"Every Indian is elated with this recognition": PM Modi as 'Maratha Military Landscapes' gets UNESCO tag

New Delhi [India], July 12 (ANI): Prime Minister Narendra Modi on Saturday stated that every India is elated with this recognition...

India highlights growing Indo-Pacific role under SAGAR vision in 2024 MEA report

New Delhi [India], July 12 (ANI): The Ministry of External Affairs (MEA) has underlined India's increasing involvement in the Indo-Pacific...

'Well done to both teams': Jay Shah as Italy, Netherlands qualify for T20 World Cup 2026

New Delhi [India], July 12 (ANI): International Cricket Council (ICC) chairman Jay Shah lauded Italy and the Netherlands after both...

Daily World Briefing, July 12

Chinese FM calls for joint efforts in finding right way for China, U.S. to get along China and the United States should work together...

Business

Section