GLOBAL MARKETS-Stocks move higher on economic outlook, dollar cautious


* MSCI’s ACWI, S&P 500, Nasdaq end at fresh closing highs

* Dollar slips as concerns remain about Friday’s data

By Herbert Lash and Marc Jones

NEW YORK/LONDON, Sept 2 (Reuters) – Record-setting world stocks moved higher on Thursday after jobless claims data suggested the U.S. labor market was charging ahead even as new COVID-19 infections surge, while the risk of a upcoming sub-par U.S. payrolls report weighed on the dollar.

Economic data from Asia and Europe was largely disappointing but the Labor Department report showed the number of Americans filing new claims for jobless benefits fell last week to a pandemic-era low.

The decline in layoffs to their lowest in more than 24 years helped ease concerns about the state of the U.S. economy even if the closely watched employment report for August on Friday shows a slowdown in nonfarm payrolls growth.

“Right now the economic data is headed in the right direction,” said Ed Moya, senior market analyst at foreign…

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