Dow Jones Gains as Jobless Claims Surprise to the Downside

The Dow Jones (DJIA) is set to open Thursday higher following the release of new jobs data from the Department of Labor.

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For the week ended May 2, initial jobless claims rose by 10,000 to 200,000, below the consensus estimate of 205,000. Continuing jobless claims, which trail initial claims by a week, dropped by 10,000 to 1.766 million and were also below the estimate of 1.8 million. Initial jobless claims serve as a gauge of layoffs, while continuing jobless claims track the number of people receiving unemployment benefits and reflect ongoing unemployment.

*This is a developing story. Stay tuned for additional updates.*