The Dow jumped nearly 200 points today and Nasdaq hit a record high after the better-than-expected unemployment data by skleb1234
The market finished higher on Thursday, with the Nasdaq hitting a fresh record high as stocks got a boost from lower-than-expected jobless claims and investors watched for updates on the next round of coronavirus stimulus from U.S. lawmakers.Angela Weiss/AFP via Getty ImagesThe Dow Jones Industrial Average was up 0.7%, over 150 points, on Thursday, while the S&P 500 rose 0.6% and the tech-heavy Nasdaq Composite advanced 1% to a new record high.
The market pared back early losses after better-than-expected unemployment data: The Labor Department said that nearly 1.2 million AmericansNot only did that beat Wall Street estimates of 1.4 million, but it’s also the lowest level of weekly jobless claims since the coronavirus pandemic began. Stocks also moved higher thanks to continued strength in Big Tech stocks, which have led the market rally in recent weeks: Facebook jumped by more than 6%, Apple more than 3% and Microsoft over 1.5%.
The jobs data comes as investors closely watch for progress on a new coronavirus stimulus bill, but Congress remains deadlocked over key issues likeCNBC on Thursday that despite stalled negotiations, he expects an agreement on the next round of coronavirus relief to be reached “in the near future.
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