US stocks jumped in morning trading on Wall Street Thursday
as markets continue an unsteady search for direction amid more mixed trends on
company earnings. The S&P 500 rose 31.60 points or 0.86% to
3,726.46 as of 10:31 am Eastern time. The Dow Jones Industrial Average rose 320.35
points or 1.05% to 30,744.16. The Nasdaq rose 122.48 points or 1.15% to 10,802.99.

Treasury yields jumped further to multiyear high, which has
helped hike interest rates on mortgages and other loans. The yield on the
10-year Treasury rose to 4.15 from 4.14% late Wednesday. It at its highest
levels in 14 years. The yield on the two-year Treasury, which often track
expectations for future Fed action, rose to 4.57% from 4.56%.

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Wall Street has been focussed on earnings reports this week
as investors try to get more insights of how companies are surviving amid the
hottest inflation in four decades and how they see the economy moving forward.
The quarterly results have been mixed so far and several big companies have
disappointed investors with weak or worrisome warnings.

Electric vehicle maker Tesla plunged 5.1% after saying it will
miss its target for vehicle deliveries this year. Railroad Union Pacific fell
3.6% after projecting slower growth, saying that the economy may be slowing down.
CSX fell 0.5% ahead of its quarterly results on Thursday. American Airlines slipped
2% after reporting its latest results.

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Technology companies made solid gains. Microsoft added
1.6%. Energy companies gained ground as US oil prices increased 2.7%. Chevron
rose 1.7%.

European stock markets were trading mostly higher. British
Prime minister Liz Truss resigned after financial market turmoil caused by multiple
policy U-turns.

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Investors remain worried about inflation and the potential
for recessions throughout world. Wall Street is closely watching for Fed’s
ongoing plant to raise interest rates to slow economic growth and curb high prices.

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The job market has remained a strong sector of the economy,
along with consumer spending. According to latest government data, number of
American applying for unemployment benefits fell last week and remains
historically low.