The Dow Jones Industrial Average rose back up to 10,018.28 Wednesday, rising 275 points after the United States Department of Labor said initial jobless claims were lower than expected.
The report, which showed a modest dip in initial jobless claims, was better than what a poll of economists had predicted. The economists, who were polled by Thompson Reuters, had predicted 465,000 initial jobless claims in the month ending July 3; the number the Labor Department released was 454,000. 
The four-week average of initial claims also fell 1,250 to 466,000, the Labor Department said on its website.
Also, after the International Monetary Fund raised its 2010 world growth estimate to 4.6% from 4.2%, international markets rallied. The S&P 500 rallied along with the Dow, up 3.13% to 1,060.27. However, the Nasdaq stayed flat at 2,159.47.

Have an opinion on this story? Share it!
Share this: 






This page is archived, and is no longer publicly editable.
Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

US jobless claims lower than forecast, futures rise