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US stocks rose for a second session after the Federal Reserve said it will accelerate the withdrawal of its economic stimulus and even as weekly jobless claims moved higher.
The Dow Jones Industrial Average rose 146 points or 0.4%, while the S&P 500 and Nasdaq Composite gained 0.45% and 0.39%, respectively.
On Thursday, the Labor Department reported new claims for unemployment benefits for last week rose 206,000, up from the previous week’s tally of 188,000 which was the lowest in 52 years. Continuing claims, which track the total number of unemployed workers collecting benefits, fell to 1.845 million, a pandemic low.
Investors continue to watch Apple as it moves closer to the first company to cross the USD 3 trillion mark. Shares must hit USD 182.856 to hit the milestone.
In stocks, Delta moved higher after laying out financial goals for the next three years and expects meaningful profitability by 2022. Holiday travel is rebounding.
McDonald’s announced it reached a settlement with former CEO Steve Easterbrook after he was fired for having a consensual relationship with an employee. He will return USD 105 million in compensation to the fast-food giant.
In vaccine news, Regeneron in focus on reports its antibody cocktail loses potency against the omicron variant.
