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U.S. weekly jobless claims increase; layoffs hit 16-month high in June

WASHINGTON (Reuters) -The number of Americans filing new claims for unemployment benefits unexpectedly rose last week and there are growing signs that demand for labor is cooling, with layoffs surging to a 16-month high in June as the Federal Reserve's aggressive monetary policy tightening stokes recession fears.

Wall St opens higher as investors assess rate outlook

Wall Street's main indexes opened higher on Thursday as investors assessed the outlook for monetary policy amid growing concerns about an economic downturn following aggressive interest rate hikes to tackle inflation.

Millions tested in Shanghai as China grapples COVID resurgence

SHANGHAI/BEIJING (Reuters) -Millions of people in Shanghai queued for a third day of mass COVID-19 testing on Thursday as authorities in several Chinese cities scrambled to stamp out new outbreaks that have rekindled worries about growth in the world's second-largest economy.

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