Banking stocks also turned in a strong performance, driving the KBW Bank Index up by 3.4 percent. The index bounced off a two-month closing low. On the economic data front, the Labor Department released a report showing a modest rebound by initial jobless claims in the week ended November 27th. The report said initial jobless claims rose to 222,000, an increase of 28,000 from the previous week’s revised level of 194,000. Street had expected jobless claims to climb to 240,000 from the 199,000 originally reported for the previous week.
Dow Jones Industrial Average surged 617.75 points or 1.82 percent to 34,639.79, Nasdaq rose 127.27 points or 0.83 percent to 15,381.32 and S&P 500 was up by 64.06 points or 1.42 percent to 4,577.1.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
