U.S. stocks climbed on Thursday as investors awaited Friday’s highly anticipated jobs report to gauge the pace of the labor-market recovery.
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The Dow Jones Industrial Average added 318.19 points, or 0.9%, to close near its session high, reaching a record close of 34,548.53.
The S&P 500 rose 0.8% to 4,201.62.
The Nasdaq Composite erased earlier losses and gained 0.4% to 13,632.84.
The Russell 1000 Value index has gained 17% this year, while the Russell 1000 Growth index has advanced 5%.
The gains came after a better-than-expected reading on jobless claims. First-time claims for unemployment insurance totaled 498,000 for the week ended May 1, hitting a fresh pandemic-era low and better than a Dow Jones estimate of 527,000.
The data came one day before April’s jobs report is released on Friday. Economists polled by Dow Jones expect one million payrolls to have been added last month and the unemployment rate is expected to fall to 5.8% from 6%.
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