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 Australian Herald.

More Information

null in null

International

Section

Red Cross outraged after killing of Gazan ambulance crews

Eight bodies of 9 missing Red Cross medics found in Gaza

GENEVA,.Switzerland - The International Federation of Red Cross and Red Crescent Societies (IFRC) has expressed profound outrage following...

Tesla to launch in Saudi Arabia next month after years of tension

Tesla to launch in Saudi Arabia as Musk and kingdom mend relations

RIYADH, Saudi Arabia: Tesla is finally entering Saudi Arabia, with a launch scheduled for next month—marking a significant shift in...

Apple likely to escape EU fine after browser changes

Apple set to stave off EU fine over browser options, sources say

BRUSSELS, Belgium: Apple appears to have dodged a major regulatory setback in Europe, following recent changes to how users select...

FBI probing increased violence against Tesla

FBI says it is probing 'increase in violent activity toward Tesla'

WASHINGTON, D.C: FBI Director Kash Patel said this week the bureau was probing what he called the increase in violent activity toward...

Alarm over nine Red Cross personnel going missing in Gaza

Concern after disappearance of 9 Red Cross medics in Gaza

GAZA - Israel is refusing to allow search parties to access an area where 9 Red Cross ambulance crew members have gone missing in Gaza....

Georgia jury hits Bayer with $2.1 billion verdict over roundup claims

Bayer ordered to pay $2.1 billion in Roundup cancer lawsuit

NEW YORK CITY, New York: A jury in Georgia has ordered Bayer, the parent company of Monsanto, to pay nearly US$2.1 billion to a man...

Sydney

Section