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."
Get a daily dose of Orlando Echo news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Orlando Echo.
More InformationDUBAI, U.A.E.: A cargo ship flagged under Liberia, known as the Eternity C, sank in the Red Sea following an attack executed by Yemen's...
WASHINGTON, D.C.: The Trump administration has started sending some weapons to Ukraine again, just a week after the Pentagon told officials...
ECAULT BEACH, France: On clear days, the white cliffs of the United Kingdom, are visible from northern France, where men, women, and...
ATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so...
In the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held...
LONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...
ATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so...
WASHINGTON, D.C.: After months of warnings from former federal officials and weather experts, the deadly flash floods that struck the...
(Photo credit: David Richard-Imagn Images) In a span of 10 pitches Saturday, the Cincinnati Reds ensured they wouldn't be swept for...
(Photo credit: David Butler II-Imagn Images) The Boston Red Sox will be looking to extend their winning streak to 10 games Sunday...
(Photo credit: Eric Canha-Imagn Images) In his 51st career start, Garrett Crochet accomplished two feats in one dominant outing:...
(Photo credit: Daniel Kucin Jr.-Imagn Images) Two teams that have long climbs if they're going to reach the postseason needed a sweep...