AllMarket Summary
logoArgusJune 24, 2022

Market Digest: MDU, CPRI, ELAN

Healthcare, Industrials, Consumer Cyclical

Stocks rose on Thursday afternoon amid new economic data and a second day of congressional testimony from Fed Chair Jerome Powell. Mr. Powell told the House Financial Services Committee that the Fed had an 'unconditional' commitment to controlling inflation despite the risk of higher unemployment. The Labor Department reported that first-time claims for state unemployment benefits fell to 229,000 for the week ended June 18, down slightly from 231,000 a week earlier but above the Reuters consensus estimate of 227,000. The Dow rose 0.64%, the S&P 0.95%, and the Nasdaq 1.62%. Crude oil traded near $104 per barrel, while gold fell $11 to $1828 per ounce.

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