Sumary of Wall Street update: S&P 500 hits record peak; tech stocks rise:
- The S&P 500 hit a record peak on Thursday, helped by gains in tech-related stocks as weaker-than-expected jobless claims data bolstered the Federal Reserve’s stance to keep interest rates lower for a longer period..
- Latest data showed the number of Americans filing new claims for unemployment benefits unexpectedly rose last week, but the increase likely understates the rapidly improving labor market conditions..
- “While states balance the vaccine rollout with stop and start reopening plans, the labor market continues to feel the heat,”.
- The tech sector hit a record high, while economy-linked financials, industrials, materials and energy fell the most among major S&P sectors..
- ET the Dow Jones Industrial Average rose 1.04 points, or 0.00% , to 33,447.30, the S&P 500 gained 13.09 points, or 0.32 %, to 4,093.04 and the Nasdaq Composite gained 117.70 points, or 0.86%, to 13,806.54….