S&P 500 jumps 1% to a record high, posts its fourth positive day in a row
U.S. stocks jumped on Thursday, extending the rally into a fourth straight day as investors assessed a new batch of corporate earnings and solid economic data.
The Dow Jones Industrial Average popped 332.26 points, or 1.1%, to 31,055.86, closing near its session high. The S&P 500 climbed 1.1% to a record closing high of 3,871.74, supported by communication services and financials. The Nasdaq Composite jumped 1.2% to 13,777.74, also reaching a new high.
A better-than-expected jobless claims report helped boost sentiment. First-time claims for unemployment insurance totaled 779,000 for the week ended Jan. 30, below the 830,000 estimate from economists surveyed by Dow Jones.
Investor awaited the release of January jobs report on Friday morning. Economists surveyed by Dow Jones expect the U.S. labor market to add a total of 50,000 jobs last month, following a decline of 140,000 in December.
Reference: CNBC
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