The S&P 500 climbed to an all-time high on Thursday after weekly jobless claims came in slightly better than expected.
The Dow Jones Industrials vaulted 131.29 points to greet the closing bell Thursday at 35,443.82, lifted by Walgreens and Chevron.
The S&P 500 progressed 12.86 points to 4,536.95 for its 54th record closing high of 2021.
The NASDAQ Composite improved upon Wednesday’s record close by 21.8 points, to 15,331.18.
On Thursday, Chewy tumbled 9% and Five Below fumbled 8%, making them among the notable movers, after reporting quarterly results.
Shares of ChargePoint, the maker of charge systems for electric vehicles, jumped 12% after reporting stellar quarterly earnings. First-time claims for unemployment insurance totaled 340,000 for the week ended August 28, versus a Dow Jones expectation of 345,000.
The number is also the lowest since March 2020 at the height of the COVID crisis.
The data came in a day before the key August jobs report, which investors are watching closely to decipher how fast the Federal Reserve will remove easy monetary policy. Economists predict 720,000 jobs were added in the month, down from 943,000 jobs added in July.
Prices for 10-Year Treasurys were higher, lowering yields to 1.29% from Wednesday’s 1.30%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.13 to $69.72 U.S. a barrel.
Gold prices backpedaled $3.60 to $1,812.40 U.S. an ounce.