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.

The S&P 500, a barometer for the top 500 US stocks, settled up 1.1 percent at 3,871, after hitting a record high at 3,873. The index has gained 4.2 percent since the week began.

Nasdaq, which reflects the performance of tech giants such as Facebook, Apple, Amazon, Netflix and Google, finished the session up 1.

2 percent at a record high of 13,778. Week-to-date, Nasdaq has jumped 5.4 percent.

The Dow Jones Industrial Average, the broadest gauge of the New York Stock Exchange, gained 1.1 percent to close the day at 31,057. The Dow has gained 3.6 percent since Friday’s close.

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

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