Both the S&P 500 (SPX) and the Nasdaq 100 (NDX) are trading higher on Thursday following an encouraging labor market update. In addition, AI-related stocks, including Nvidia (NVDA), Advanced Micro Devices (AMD), and Broadcom (AVGO), are rising in sympathy on the back of an optimistic earnings report from Taiwan Semiconductor (TSM).
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Initial jobless claims, which serve as a gauge of layoffs, decreased by 9,000 to 198,000 for the week ended January 9. Furthermore, continuing jobless claims, which reflect ongoing unemployment, fell by 19,000 to 1.884 million.
Trump Says Killings in Iran Have Stopped
Easing geopolitical tensions are also pushing the market higher today. On Wednesday evening, President Trump said the “killing in Iran is stopping,” and that the country had halted plans to execute protesters.
Earlier this week, Trump told Iranian protesters that “HELP IS ON ITS WAY,” without specifying any clear action. It remains uncertain if Trump will involve the U.S. military in Iran, although tensions have cooled with global diplomatic pressure contributing to a temporary de-escalation.
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