Wall Street Rebounds at Open After Jobless Claims Fall

© Reuters

By Geoffrey Smith — U.S. stock markets opened mostly higher on Wednesday as trading quietened down ahead of the holiday period, unruffled by data pointing to a weakening of the economy under pressure from the latest wave of the pandemic.

By 9:40 AM ET (1440 GMT), the was up 184 points, or 0.6%, at 30,200 points, while the was up 0.4% and the was down 0.1%.

Earlier, the Labor Department had reported that initial jobless claims had stayed above 800,000 for the third straight week last week, despite falling some 10% from the previous week, when they hit their highest since early September. In addition, personal incomes fell 1.1% last month, more than expected, and durable goods orders grew at their slowest rate in seven months.







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