Signs of a cooling U.S. labor market boosted stocks

The main U.S. stock indices showed positive dynamics on Thursday. For Dow Jones it became the seventh consecutive day of growth, which was the longest continuous rally in the current year, reports Business Insider. At the end of trading, it added 0.85%, S&P 500 - 0.51%, Nasdaq - 0.27%.

Growth was stimulated by statistics on the labor market. Over the past week, the number of applications for unemployment benefits rose to the maximum value since August, amounting to 231 thousand. Despite the fact that the results were higher than expected and pointed to the cooling of the labor market, players took them with optimism, seeing them as an incentive for the Fed to move faster to lower interest rates. However, as commented on the situation in Citi, if applications in the coming weeks will show a steady growth and overcome the mark of 260 thousand, it will cause concern.

The yield on 30-year Treasury bonds fell on Thursday by 0.72%, which supported the stock market.