Wall Street recovered portion of yesterday's losses

Eren Sengezer FXStreet

Supported by the positive macro data, major equity indices in the United States rebounded on Thursday, recovering part of yesterday's heavy losses.

Today's data from the United States revealed that the weekly initial claims decreased 4,000 to 232,000 for the week ending May 12, while the number of citizens who continue to receive unemployment benefits dropped by 22,000 to its lowest level since 1988. Other data showed that the manufacturing activity index in the Philadelphia area advanced to 38.8 in April from 22 in March and came closer to its record reading of 43.3 seen in February.

Forex today: scandals and political tensions roil markets once again

The Dow Jones Industrial Average added 56.09 points, or 0.27%, to 20,663.02, the S&P 500 rose 8.71 points, or 0.37%, to 2,365.74 and the Nasdaq Composite gained 43.89 points, or 0.73%, to 6,055.13.

Tomorrow's macroeconomic calendar won't be offering any data that could impact the market mood and the political developments from the United States will be looked upon for fresh impetus.

Headlines from the U.S. session:

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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