US Stocks Climb as Jobless Claims Drop and Bond Yields Decrease

According to Yahoo News, US stocks experienced an increase on Wednesday ahead of the Thanksgiving holiday, as investors assessed jobless claims which reached their lowest point in five weeks. Weekly jobless claims dropped by 24,000, settling at 209,000. The previous week's figure had been the highest since August. Bond yields also edged lower, with the 10-year Treasury rate decreasing by about three basis points. In the previous trading session, stocks ended a streak of gains after minutes from the Federal Reserve's last policy meeting revealed the central bank's continued hawkish stance on monetary policy. Oil prices tumbled as OPEC+ postponed a crucial meeting where member states were set to discuss future output. US crude prices dropped by more than 4%, falling below $75 a barrel. Markets will reopen on Friday for a shortened trading session after taking Thursday off for the holiday. As of Wednesday's 9:30 a.m. opening bell, the S&P 500 was up 0.49%, the Dow Jones Industrial Average increased by 0.41% (144.40 points), and the Nasdaq Composite rose by 0.87%. In other financial news, West Texas Intermediate crude oil plunged 4% to $74.53 per barrel, gold inched lower to $2,001.30 an ounce, and Bitcoin slid 1% to $36,543.