Why U.S. Stocks Are Trading Higher After Rise In Jobless Claims

U.S. stocks traded higher this morning, following the release of data on initial jobless claims. The Dow traded up 0.58% to 31,218.76 while the NASDAQ rose 1.16% to 11,493.10. The S&P also rose, gaining, 0.83% to 3,876.95. Also check this: U.S. Trade Deficit Might Shrink This Much In May, Here's The Major Macro Issues For Thursday Leading and Lagging Sectors Energy shares rose by 3.4% on Thursday. Meanwhile, top gainers in the sector included Consumer Staples (NYSE: CPG ), up 12% and Ring Energy, Inc. (NYSE: REI ) up 9%. In trading on Thursday, consumer staples shares dipped by 0.2%. Top Headline U.S. initial jobless claims increased by 4,000 to 235,000 in the week ended July 2nd, compared to analysts’ estimates of 230,000. The trade deficit, however, shrank by $1.1 billion to a five-month low level of $85.5 billion in May, versus analysts’ expectations of $84.9 billion. Exports from the US increased by 1.2%, while imports rose 0.6%. Equities Trading UP Grove Collaborative Holdings, Inc. (NYSE: GROV ) shares shot up 54% to $6.17 amid news the company's products will now be available in Kohl's (NYSE: KSS ), Midwest-based Meijer and also Giant Eagle. Shares of Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE ) got a boost, shooting 34% to $6.10. Longeveron Inc. (NASDAQ: LGVN ) shares were also up, gaining 17% to $7.12. Longeveron ... Full story available on Benzinga.com