NEW YORK – Wall Street stocks rose Thursday, with the S&P 500 finishing at another record, after lackluster employment data bolstered expectations the Federal Reserve will remain dovish.
The Labor Department reported 744,000 new jobless claims, seasonally adjusted, in the week ended April 3, an increase of 16,000 from the previous week’s upwardly-revised level.
Though a negative sign for the economy, the disappointing labor figures “will convince the Fed that it needs to be patient before removing policy accommodation,” Briefing.com analyst Patrick O’Hare said.
In an appearance on an IMF panel, Fed Chair Jerome Powell again said that any rise in inflation would…
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