On Thursday, August 8, U.S. stock markets closed higher, with the Nasdaq and S&P 500 gaining over 2% as jobless claims fell more than expected, easing labor market concerns.
According to economic data, U.S. jobless claims dropped by 17,000 to 230,000 for the week ending August 3, below the expected 240,000. Wholesale inventories grew 0.2% in June, following a 0.5% increase in May.
The S&P 500 saw gains across all sectors, led by technology and communication services. Eli Lilly shares surged 9.5% after the company raised its profit forecast and saw quarterly sales of its weight-loss drug Zepbound surpass $1 billion.
The Dow Jones Industrial ...
