US Stocks Close Higher, Nasdaq Books Record
Wall Street closed in the green on Thursday after better-than-expected employment numbers. Government data showed the US economy added 4.8 million jobs in June, well above market expectations of 2.9 million. Meanwhile, the jobless rate declined to 11.1% from 13.3% in May, also beating consensus of 12.4%. However, initial jobless claims rose by 1.427 million, above expectations of 1.38 million, while continuing claims increased to 19.29 million. On the COVID front, latest numbers showed a 50 thousand increase in daily cases in the US, a new record. On the corporate side, Moderna’s stock fell sharply after its vaccine trial was delayed. The Dow Jones climbed 92 points or 0.4% to 25,827. The S&P 500 added 14 points or 0.5% to 3130. The Nasdaq jumped 53 points or 0.5% to a new record of 10,208.
2 hours ago