Stocks rose for the first time in three days at the end of a volatile session on Thursday as all three market benchmarks wiped out earlier losses to settle modestly in the green. However, all three averages are still on track to end the week with losses.
On Thursday, initial jobless claims came in at a better-than-expected total. New filings for the week ended March 20 fell to 684,000, according to the Labor Department, reaching their lowest level since mid-March 2020. The total's decline followed an upwardly revised total of 730,000 for the previous week. Continuing jobless claims also fell to a new pandemic-era low of 3.870 million. However, these totals still remain above pre-pandemic weekly numbers.
Meanwhile, President Joe Biden stated during his first public press conference on Thursday that his administration is now targeting 200 million vaccinations in his first 100 days in office. This new goal comes after the administration met its initial goal ahead of schedule. Currently, the U.S. has administered more than 133 million vaccines.
Here's how the market settled on Thursday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
For Stocks, reopening names like airlines and cruise lines jumped in late-afternoon trade, with American Airlines
For Sector Performance, sectors ended Thursday's session mostly higher, with only Information Technology
For Commodities and Currency, the U.S. Dollar
For Friday, market participants will turn their attention to February readings for personal income, consumer spending and core inflation, as well as a finial reading for consumer sentiment.