Wall Street pushes US stocks, oil prices higher on promising data
BOSTON (Reuters) -U.S. stocks and oil prices rebounded on Thursday morning as unemployment claims declined and the trade deficit widened, positive economic data in the face of rising COVID-19 cases and signals of declining Federal Reserve stimulus.
The number of Americans filing new claims for unemployment benefits declined further last week, while layoffs dropped to their lowest level in just more than 21 years in July as companies held on to their workers amid a labor shortage.
The U.S. trade deficit also surged to a record high in June as efforts by business to rebuild inventories to meet robust consumer spending drew in more imports.
