Investors are hopeful for a Federal Reserve interest rate cut after initial jobless claims in the United States surged to their highest level in several months.
The increase in jobless claims is fueling market expectations for an imminent rather than delayed interest rate cut, with stocks mostly rising except for a few.
Stocks saw gains on Thursday as investors absorbed earnings reports, with hopes that the Fed might consider cutting interest rates, especially given the recent uptrend in major US indices like the Dow Jones.
Markets are currently pricing in the first rate cut by a quarter point in September, but there is increased confusion due to the resilience of the US economy and its impact on inflation and Fed policy decisions.
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