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Software surge boosts Wall Street rise
Wall Street opened higher supported by gains in software stocks, despite Treasury yields rising to their highest levels in over two decades due to inflation concerns and increased government debt. The Dow Jones Industrial Average rose by 0.18% to reach 50,998.80 points, the S&P 500 increased by 0.25% to 7,670.93 points, while the Nasdaq added 0.46%, reaching 26,984.50 points. In the context of the U.S. labor market, new unemployment claims last week declined to 197,000 requests, compared to economists' expectations of 200,000, indicating a stable job market despite warnings of increased hiring.
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