S&P 500, Nasdaq end at records, extending rally

New York

The S&P 500 and Nasdaq ended at records, extending a rally fueled by good earnings, improving economic data, and positive coronavirus trends.

The S&P 500 gained 1.1 percent to 3,871.74, while the tech-rich Nasdaq Composite Index jumped 1.2 percent to 13,777.74.

The Dow Jones Industrial Average was up 1.1 percent at 31,055.86, about 130 points shy of a record.

The records follow data showing a drop in new applications for jobless benefits for the third straight week, the latest in a stream of improving economic data this week.

Art Hogan, chief market strategist at National Securities, said investors have also been cheered by the drop in new US coronavirus cases and an increase in vaccination rates.
“We clearly are seeing fewer cases and fewer hospitalizations,” Hogan said.—AFP

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