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rdf:type	schema:NewsArticle
schema:articleBody	US stocks started Thursday with upward momentum following another record-setting session, as traders digested a policy change by the Federal Reserve as well as new jobless data. About 20 minutes into the session, the benchmark Dow Jones Industrial Average was up 0.5 percent at 28,482.19. The broad-based S&P 500 rose 0.1 percent to 3,482.08, while the tech-rich Nasdaq was down 0.3 percent to 11,632.68. The S&P 500 and Nasdaq posted their fourth and fifth consecutive all-time high records, respectively, on Wednesday, with the Nasdaq edging closer to 40 records for the year amid a surge in tech stocks fueled by consumers staying home due to the coronavirus pandemic. Now it was the Dow's turn to climb after the Fed's announcement that it was revamping its policies to give greater weight to maximize employment, aiming to benefit lower-income families while reducing its emphasis on fighting inflation. Fed Chair Jerome Powell said the central bank's move is aimed to correct "shortfalls" in its quest for maximum employment, and means inflation can stay about the 2.0 percent target "for some time" before the Fed will need to act by raising rates. "This change reflects our appreciation for the benefits of a strong labor market, particularly for many in low- and moderate-income communities," he said, adding that the Fed is prepared to use "our full range of tools to support the economy." Bank stocks climbed on the news, with Citigroup and Bank of America up 1.9 percent and JPMorgan Chase up 2.5 percent. Separate weekly data from the Labor Department showed another million people filing claims in the week ended August 22, a drop from the week prior but still well above any single week of the global financial crisis 12 years ago. cs/ft
schema:headline	Dow climbs at open after Fed announcement, Nasdaq retreats
schema:mentions	S&P 500 Index JPMorgan Chase Great Recession Dow Jones Industrial Average Federal Reserve Australian Labor Party Inflation Pandemic Coronavirus Citigroup Jerome Powell NASDAQ Composite Momentum
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-08-27 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	70 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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