US Stocks Soar on Strong Jobless Claims Data, Easing Recession Fears

Driven by positive jobless claims data, which eased recession fears, US stock markets rebounded significantly on Thursday, recovering from earlier losses. The S&P 500 saw its best performance since November 2022, while the Nasdaq and Dow Jones also showed strong gains. The encouraging jobs data overshadowed last week`s unemployment rate increase and weak payroll report. Eli Lilly`s strong earnings report, fueled by demand for its weight-loss drugs, further boosted the market. Investor focus will now shift to upcoming inflation data for insights into future Federal Reserve policy.