Dow Jones surges 1.77% as economists ease recession fears

The Dow Jones rose 1.77% on Thursday, driven by reassuring comments from top economists and CEOs, who downplayed fears of an imminent recession. The NASDAQ surged 2.87%, and the S&P 500 had its best day since November 2022, buoyed by lower-than-expected unemployment claims.

 

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Key stocks like Intel and Amgen led the gains, with Intel up nearly 8%. The market outlook remains cautious, with next week’s inflation data crucial in shaping Federal Reserve decisions on interest rates.

Meanwhile, the British Pound is steady as investors await critical UK economic data, including unemployment and inflation figures, which will determine the Pound’s direction. Concerns persist over the impact of high interest rates, with mortgage repossessions on the rise.