The Dow and the Nasdaq hit record highs on Thursday ahead of president-elect Joe Biden's pandemic stimulus speech to jump-start a struggling US economy after data highlighted weakening labour market conditions.
The labour department's weekly jobless report on Thursday showed the number of Americans filing first-time claims for unemployment benefits increased more than expected last week, underscoring the impact of a resurgence in Covid-19 infections. Initial claims for state unemployment benefits totalled a seasonally adjusted 965,000 for the week ended January 9, compared with 784,000 in the prior week...
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