US Stocks Rally as Jobless Claims Fall More Than Expected

Initial jobless claims dropped to 233,000, calming recession fears and boosting investor confidence.

The S&P 500 rose 1.9% and the Nasdaq jumped over 2% following the positive labor market data.
The Dow Jones Industrial Average increased by 1.8%, reflecting broad market gains.
Weekly jobless claims fell by 17,000, beating economist forecasts of 240,000.
Continuing claims for unemployment benefits reached their highest level since November 2021 at 1.88 million.
Tech stocks, including Nvidia, led the market rebound, with significant gains across the sector.