Dow rises over 200 points, S&P 500 notches record close ahead of Friday’s key jobs report
The major U.S. equity indexes rose Thursday and the S&P 500 set a new record closing high as energy and travel stocks bounced back ahead of a key labor market report.
The Dow Jones Industrial Average rose 271.58 points, or nearly 0.8%, to close at 35,064.25. The S&P 500 added 0.6% to finish at a new all-time high of 4,429.10, while the Nasdaq Composite rose about 0.8% to 14,895.12. The moves in the stocks came after a mostly lower regular session on Wednesday, in which the Dow dropped more than 300 points.
Weekly initial jobless claims came in at 385,000 on Thursday, in-line with expectations. The claims data was the last reading before the key July jobs report, which will be released on Friday morning. There is a wide range of estimates from economists about what the report will show, and some metrics for employment gains have disappointed despite a high level of reported job openings.
The jobs report is expected to be a key data point for the Federal Reserve as it considers when to tighten monetary policy.
Reference: CBNC
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