Dow logs 4th-highest close in its history as S&P 500 books 35th record of year to start 2021’s second half


U.S. stocks closed at or near record territory Thursday, with the S&P 500 marking its 35th closing high of 2021, ahead of an important monthly labor-market report on Friday and a long holiday weekend, with markets closed in observance of the Fourth of July holiday on Monday. Markets scored a lift on the back of a decline in jobless claims and a continuing expansion in manufacturing activity. first-time jobless claims fell to 364,000 last week from 411,000 the previous week, the Labor Department said. Economists had forecast a decline to 380,000. The data follows a better-than-expected update on private-sector employment from ADP on Wednesday. Meanwhile, the Institute for Supply Management’s manufacturing index slipped to 60.6% in June from 61.2% in May, coming in slightly below the Wall Street forecast. A reading of more than 50 indicates an expansion in activity. The Dow Jones Industrial Average
finished up over 130 points, or 0.4%, to end at around 34,633, marking its fourth-highest close in history as it inches toward eclipsing its May 7 all-time closing high at 34,777.76. The Nasdaq Composite Index
closed up 0.1% at 14,522, narrowly missing its record close at 14,528.33; while the S&P 500 index closed up 0.5% to 4,319, powered by gains in energy
health care
and communication services
Shares of Krispy Kreme
which made its public debut, ended the session up nearly 24%. Meanwhile, Robinhood Markets

made its plans for a public offering public. It will list on Nasdaq Inc.
under the ticker symbol “HOOD.”


Leave A Reply

Your email address will not be published.