Wall Street rose for a second session on Yellen’s comments easing rate hike concerns while the dollar tumbled. Longer-dated Treasuries and gold fell on higher-risk appetite. Oil erased earlier gains and ended near flat after U.S. data showed crude inventories at all-time peak.
U.S. Labor Department releases weekly report on new applications for unemployment benefits. First-time applications for state unemployment benefits are expected to have stayed unchanged at 265,000, according to a Reuters survey, marking the 56th week below the 300,000 threshold associated with a healthy labor market. Claims were generally low in March, setting the labor market for another month of strong job gains. Chicago Purchasing Managers’ Index is expected to show factory activity swung back into expansion territory in March at 50 after falling to 47.6 in February.
