S&P 500 rises to record close, posts 7th straight day of gains on better-than-expected earnings
The S&P 500 touched a new record on Thursday, joining the Dow Jones Industrial Average in wiping out a two-month swoon amid strong profits and year-end optimism.
The S&P 500 rose 0.3% to notch a record close of 4,549.78. It also hit an intraday high of 4,551.44. The Nasdaq Composite rose 0.6% to 15,215.70. The Dow Jones Industrial Average shed 6.26 points to close at 35,603.08, dragged down by a steep decline in IBM’s shares.
On the economic front, investors were encouraged by strong jobs data. Jobless claims fell to a new pandemic low of 290,000 last week, the Labor Department reported Thursday. That’s down from the previous week by 6,000 and lower than the 300,000 estimated by economists surveyed by Dow Jones.
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