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Dow Jones climbed around 700 points on Thursday. US equities are attempting a recovery for the third time. Risk appetite is slowly rebuilding as investors pivot back to rate cut watch. The Dow Jones Industrial Average (DJIA) recovered over 680 points during the Thursday market session after markets take another run at pushing equities back into a bullish trajectory following a near-term plunge fueled by fresh fears of a US recession. Market flows are beginning to return to normal, or some version of it, and indexes are taking another crack at recovering lost ground. However, the Dow Jones still remains on the wrong end of price action and scrambling to reclaim the 40,000.00 handle. US Initial Jobless Claims for the week ended August 2 printed at 233K, less than the forecast 240K and easing back from the previous week’s 250K. Cooling initial unemployment figures are helping investors keep a lid on recent downturn fears after last week’s US labor data dump sparked a firm risk-off bid. US data watchers will be on the lookout for a fresh round of producer and consumer-level inflation figures due next week. US Producer Price Index (PPI) inflation is slated for next Tuesday, with Consumer Price Index (CPI) inflation on the books for next Wednesday. Dow Jones news The Dow Jones tilted firmly into the high side, with nearly all of the index’s listed securities in the green on Thursday. Walt Disney Co. (DIS) ended Thursday flat just below $86.00 per share after reporting weaker-than-expected profits from theme park operations despite an upswing in revenue streaming services.  Intel Corp. (INTC) is in recovery mode on Thursday, rising nearly 8% and approaching $20.50 per share after hitting a fresh 52-week low early in the day. The tech giant is seeing a bounce in its share price after investors were spooked by a slight miss…

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Filed under: News - @ August 9, 2024 2:12 am