US stocks edged higher on Thursday, ending at record closing highs for yet another session. The Dow Jones Industrial Average surged almost 1.4 per cent to end at 46 thousand 108. The S&P 500 climbed over 0.8 per cent to end at 6 thousand 587 points, and the tech-heavy Nasdaq Composite Index settled above 0.7 per cent to close at 22 thousand 43. The markets digested a mixed bag of economic data, including the uptick in inflation alongside signs of cooling in the labour market. 

 

 

The Consumer Price Index for All Urban Consumers increased 0.4 percent in August on a month-by-month basis, after rising 0.2 percent in July, according to the U.S. Bureau of Labour Statistics data. On an annual basis, the all-items index increased 2.9 percent before seasonal adjustment. On the other hand, the number of Americans filing new applications for jobless benefits increased sharply last week. According to the Labour Department report, initial claims for state unemployment benefits rose by 27,000 to a seasonally adjusted 263,000 during the week ending on the 6th of September. This is the highest level for initial claims since the 23rd of October, 2021.