Market Updates

U.S. Stocks and Bonds Rise After Powell Comments

Barry Adams
23 Jun, 2022
New York City

    U.S. stocks opened higher and in volatile trading closed higher after weekly jobless claims were stable and the Fed Chairman Powell reiterated central bank's commitment in lowering inflation. 

    U.S. weekly jobless claims declined 2,000 to a seasonally adjusted 229,000 in the week ended June 18, the Labor Department said today.

    The previous week's claims were revised 2,000 higher to 231,000.  

    The 4-week moving average was 223,500, an increase of 4,500 from the previous week's revised average.

    The 4-week moving average of insured unemployment remained near 1%, historic multi-decade low. 

    The Fed Chairman Powell stressed how critical it is to tame inflation in his testimony to lawmakers on the second day of his testimony. 

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