U.S. stocks swung between slight gains and losses Thursday. Some traders said early declines led by health-care shares were mitigated by fresh hopes that the European Central Bank was holding course on easy money policies. The moves came as data showed U.S. jobless claims near a four-decade low. A strong employment report Friday could reassure investors that the U.S. economy remains on track, while bolstering the case for the Federal Reserve to raise interest rates in December. Investors remain divided on the prospect of higher U.S. rates this year. Federal Reserve Bank of Richmond President Jeffrey Lacker said on Wednesday that current economic conditions provide a "strong case" to raise short-term interest rates "more rapidly." Fed-fund futures, which traders use to place bets on central bank policy, showed a roughly 64% chance of rate increase by December, according to CME Group.
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