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Investing.com — U.S. stock markets opened strongly on Thursday, extending their rebound and shrugging another set of weekly jobless claims numbers that suggested the labor market recovery is stalling.
By 9:45 AM ET (1345 GMT), the Dow Jones Industrial Average was up 190 points or 0.7% while the S&P 500 was up 0.6%. The Nasdaq Composite, which has seen the greatest volatility over the last week as a skewed options market has rapidly rebalanced, rose 91 points, or 0.9%.
Earlier, figures released by the Department of Labor showed that initial jobless claims stuck at 884,000 last week, unchanged from the previous week and above consensus forecasts. The total number of people claiming jobless benefits as of the week through August 22 rose by nearly 400,000 to 29.61 million.
