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Dow Surges Over 300 Points, Market Volatility Decreases

US stocks closed higher on Thursday, driven by growth stocks following the release of unemployment data. The US Labor Department said initial jobless claims increased by 9,000 to 225,000 in the week ending December 24. The Fed's aggressive rate increases have impacted stocks this year, with the benchmark S&P 500 losing around 19%.

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Investor Fear Eases After Nasdaq Rises More Than 2%

The CNN Money Fear and Greed index showed some easing in the fear level among US investors after US stocks closed higher on Thursday. US stocks recorded gains after data from the Labor Department showed a rise in jobless claims from last week. US initial jobless claims increased by 9,000 to 225,000 in the week ending December 24, compared to market expectations of 225,000.

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