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US Stocks Go Sideways As Jobless Claims Rise – Barron's

US stocks remained largely unchanged on Thursday as jobless claims rose unexpectedly. The lack of significant movement in the market reflected investors’ uncertainty about the economic recovery amid the ongoing pandemic.

The Labor Department reported that initial jobless claims increased by 16,000 to a seasonally adjusted 351,000 for the week ending August 14. This unexpected rise in jobless claims raised concerns about the pace of the labor market’s recovery.

Despite the jobless claims data, major stock indexes like the S&P 500 and the Dow Jones Industrial Average showed little movement throughout the day. Investors are closely monitoring economic indicators and corporate earnings reports for signs of how the economy is faring.

The mixed signals in the market highlight the challenges facing investors as they try to navigate the uncertainty caused by the pandemic. The Federal Reserve’s upcoming annual symposium in Jackson Hole, Wyoming, will likely provide more insights into the central bank’s outlook on the economy and potential policy changes.

Overall, the sideways movement in US stocks reflects the cautious sentiment among investors as they assess the impact of rising jobless claims on the economic recovery.

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