S&P 500 closes at another record for its sixth positive day in a row
The S&P 500 rose for a sixth day in a row on Thursday as investors took solace in the Federal Reserve’s patient stance on raising interest rates. Stronger-than-expected economic data also boosted sentiment.
The broad equity benchmark gained 0.4% to hit another record close of 4,680.06.
The tech-heavy Nasdaq Composite rose 0.8% to an all-time closing high of 15,940.31.
The Dow Jones Industrial Average dipped 33.35 points, or nearly 0.1%, from a record to 36,124.23 as Goldman Sachs and JPMorgan struggled.
The S&P 500 is up 1.6% for the week, pushing its year-to-date return up to 24.6% as the benchmark enters a seasonally strong part of the year for markets.
On the data front, U.S. jobless claims totaled 269,000 for the week ended Oct. 30, the lowest pandemic-era total and better than the 275,000 expected by economists polled by Dow Jones.
October’s hotly anticipated jobs report will be released on Friday. Consensus estimates call for 450,000 jobs added, according to Dow Jones. Nonfarm payrolls increased by 194,000 in September, far short of the 500,000 estimate.
Reference: CNBC
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