US stocks closed higher on Thursday driven by growth stocks after the release of unemployment data.
The US Labor Department said initial jobless claims rose by 9,000 to 225,000 in the week ended December 24.
The Fed’s aggressive rate hikes have hit stocks this year, with the benchmark S&P 500 down nearly 19%.
All major sectors on the S&P 500 closed on a positive note, with communications services, consumer discretionary and information technology stocks posting the biggest jumps on Thursday.
The Nasdaq 100 jumped 2.54% to close at 10,951.05 on Thursday amid gains in U.S. shares. Amazon.com, Inc. amzn And Tesla Inc TSLA, Elon Musk reportedly told employees that they “shouldn’t be bothered by the craziness of the stock market.”
The S&P 500 rose 1.75%, while the Dow Jones gained 1.05% to 33,220.80 in the previous session. Apple Inc. AAPL Shares soared on Thursday.
The CBOE Volatility Index (VIX) of the Chicago Board Options Exchange fell 3.2% to 21.44 on Thursday.
What is the CBOE Volatility Index?
The CBOE Volatility Index, popularly known as the VIX, is a measure of expected equity market volatility based on S&P 500 Index calls and puts. alternative,
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