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Boston Herald
Boston Herald
8 Aug 2024
Boston Herald Wire Services


NextImg:Ticker: Stocks rally on job claims report; Third person dies in Boar’s Head listeria outbreak 

The Wall Street roller coaster ride continues as U.S. stocks rallied Thursday in the latest sharp swerve after a better-than-expected report on unemployment eased worries about the slowing economy.

The S&P 500 jumped 2.3% for its best day since 2022 and shaved off all but 0.5% of its loss from what was a brutal start to the week. The Dow Jones Industrial Average rose 683 points, or 1.8%, and the Nasdaq composite climbed 2.9% as Nvidia and other Big Tech stocks helped lead the way.

“Today’s jobless claims data may ease some of the concerns raised by last week’s soft jobs report,” said Chris Larkin, managing director, trading and investing, at E-Trade from Morgan Stanley. “But with inflation data due out next week and the stock market still working through its biggest pullback of the year, it’s unclear how much this will move the sentiment needle.”

Three people have now died in a listeria food poisoning outbreak linked to Boar’s Head deli meats, federal food safety officials announced Thursday, and the overall number of people sickened rose to 43.

The additional death happened in Virginia, according to the Centers for Disease Control and Prevention. The other two deaths were in New Jersey and Illinois. The CDC also said nine more cases were reported since a July 31 release about the outbreak, which started in late May.

Boar’s Head recalled 7 million pounds of deli meats on July 30, expanding an initial recall on July 25 after a liverwurst sample collected by health officials in Maryland tested positive for listeria.

The meat was distributed to stores nationwide, including Massachusetts. Consumers should not eat the recalled meats and should discard them or return them to the store for a refund.