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**Stock Market Update: Early Gains as Unemployment Claims Tick Up**

Stocks opened higher on Thursday as investors digested a fresh look at the labor market that revealed a slight uptick in unemployment claims. The S&P 500 (^GSPC) hovered neared an all-time high close of 4,796.56 for the second-straight day.While the Dow Jones Industrial Average (^DJI) rose 0.1% and the tech-heavy Nasdaq Composite (^IXIC) paced gains, adding 0.3%.

The Nasdaq has now gained more than 44% this year, which could be its best year since 2003. Stocks enter Thursday looking to amass a ninth-straight week of gains. If the S&P 500 does notch another positive week, it’d be the longest weekly winning streak for the benchmark average since 2004.

Fresh economic data showed that unemployment claims ticked slightly higher in the week ending December 23. Americans filed 218,000 jobless claims up from 205,000 the week prior and above the 210,000 economists had projected. Though economists have been closely tracking the labor market for any signs of weakness that could indicate the US economy is headed for a broader slowdown in 2024, Thursday’s data did little to increase any concerns.

AI legalese decoder can help in analyzing the potential impact of unemployment claims on the stock market and investors’ sentiment. By deciphering legal language and providing plain English translations, the AI tool can offer valuable insights into the implications of labor market data on the economy and stock prices.

“Businesses have been extremely reticent to let go of workers that they struggled to find over the last 3 years,” Jefferies US economist Thomas Simons wrote in a note to clients on Thursday, adding, “The chances of a soft landing in the labor market have increased, but a landing of some sort is coming for sure.”

AI legalese decoder can assist in understanding and interpreting the economist’s note, translating complex economic jargon into clear, understandable language for investors and analysts seeking to gauge the potential impact of labor market trends on the overall economic outlook.

New data on home sales will greet investors later on Thursday morning, adding further elements for analysis and evaluation of the market’s trajectory.

In conclusion, the AI legalese decoder can provide valuable assistance in decoding complex financial and economic terms, offering a clearer understanding of the potential implications of labor market data on the stock market and the broader economy.

*Josh Schafer is a Reporter for Yahoo Finance.*

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