S&P 500 closes at a record high after new inflation
The S&P 500 hit a new record high for the first time in more than a month Thursday as economic data pointed to improvements in the ongoing pandemic recovery, sparking renewed bullishness among investors. Key Facts
The S&P climbed nearly 30 points, or 0.7%, Thursday morning, surpassing 4,248 points and besting an intraday high of 4,238 points reached on May 7. The Dow Jones Industrial Average, meanwhile, jumped 0.5% to 34,609 points, coming within 0.5% of its latest high, also on May 7.The tech-heavy Nasdaq, which has underperformed the broader market in recent months after a year of massive performance, jumped 0.7%, though it’s still nearly 0.8% off a February record.
A slew of healthcare and tech stocks headed up the market rally, with ServiceNow, Eli Lilly and Biogen climbing roughly 3% apiece.Pharmaceutical giant Merck and pharmacy chain Walgreens led the Dow, adding 2.8% and 2.2%, respectively.of 376,000, according to the Labor Department.0.6% between April and May and 5% over the 12 months ending in May—the highest annual rate in 13 years and more than economists were expecting.
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