NEW YORK – U.S. stocks rose in a late-day rally on Thursday as investors bought stocks likely to do well in the recovery and picked up beaten-down Apple and Tesla shares in anticipation that the U.S. economy grows at its fastest pace in decades this year.
President Joe Biden cited as economic progress Labor Department data that showed a declining number of Americans claimed unemployment insurance, news investors shrugged off earlier as Wall Street traded lower most of the session.
The labor report on Thursday showed claims for unemployment benefits dropped to a one-year low last week, a sign that the U.S. economy is on the verge of stronger growth as the pub…
Keep on reading: Stocks rebound in late-day rally on Wall Street