NEW YORK (UrduPoint News / Sputnik – 05th February, 2021) Stocks on Wall Street rose for a fourth straight day on Thursday, with the S&P500 and tech-heavy Nasdaq indexes hitting record highs, as declines in US jobless claims suggested the labor market may be recovering from the worst impact of the novel coronavirus pandemic.
2 percent at a record high of 13,778. Week-to-date, Nasdaq has jumped 5.4 percent.
Thursday’s rally in stocks came after data showed US weekly jobless claims fell 4 percent last week, after back-to-back declines of 7 percent and 3 percent in the two prior-weeks. The data suggested a mild recovery in a labor market depressed for months by the novel coronavirus pandemic.
From : www.urdupoint.com