Wall St rebounds on tech boost after fewer jobless claims data – Reuters

Wall St rebounds on tech boost after fewer jobless claims data – Reuters

Technology stocks helped Wall Street's main indexes rebound on Thursday after three sessions of declines, as data showed fewer Americans filed for weekly jobless claims, while investors shrugged off a surge in producer prices.

The Labor Department's data showed U.S. producer prices rose 0.6% last month, after a gain of 1% in March. A separate report indicated claims for U.S. unemployment benefits increased 473,000 in the latest week. read more

A surge in commodity prices, labor shortage and much stronger-than-expected consumer prices data this week have stoked inflation concerns that could force the U.S. Federal Reserve to raise interest rates, despite its reassurances that the rise in prices to be temporary.