Stock Market Today: Stocks Rally on Encouraging Jobs Data

Weekly jobless claims edged up last week, while continuing claims hit their highest level since February.

stock market chart
(Image credit: Getty Images)

A relatively quiet day on Wall Street resulted in a win for stocks as bargain hunters swooped in following a stretch of losses for the major market indexes. The recent spate of selling was sparked by worries that the Federal Reserve will keep hiking interest rates and hold them higher for longer as the U.S. economy continues to show signs of strength. However, this morning's weekly jobless claims data hinted that the Fed's aggressive policy could finally be starting to slow the labor market – and gave investors a much-needed silver lining of hope.  

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Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.