Wall Street set to open lower as labor market recovery cools – Reuters.com

(Reuters) – Wall Street climbed in choppy trading on Thursday, with investors returning to the perceived safety of technology-related stocks as a surprise rise in weekly jobless claims signaled a slowdown in economic growth.FILE PHOTO: A worker cleans the floor of the New York Stock Exchange (NYSE) , U.S., March 20, 2020. REUTERS/Lucas Jackson/File PhotoNine…

Wall Street set to open lower as labor market recovery cools – Reuters.com

(Reuters) – Wall Street climbed in choppy trading on Thursday, with investors returning to the perceived safety of technology-related stocks as a surprise rise in weekly jobless claims signaled a slowdown in economic growth.FILE PHOTO: A worker cleans the floor of the New York Stock Exchange (NYSE) , U.S., March 20, 2020. REUTERS/Lucas Jackson/File PhotoNine of the 11 major S&P indexes were trading higher, with information technology leading gains.Apple Inc, Amazon.com Inc, Netflix Inc, Nvidia Corp and Facebook Inc, which have outperformed at a time of increased economic uncertainty, rose between 0.5% and 2.7%.“Investors are going to be needing stocks that can weather a lower growth path because if we don’t get another round of fiscal stimulus, there’s not going to be a lot more we can do to continue boosting the economic recovery,” said Max Gokhman, capital markets strategist at Pacific Life Fund Advisors.Waning hopes of more fiscal stimulus, signs of a faltering business recovery and a sell-off in technology-related names have weighed on U.S. stocks this month.The S&P 500 briefly fell 10% b
Read More From Publisher