U.S. stocks rose closer to their all-time highs following a couple reports on the economy that came in close to expectations.
The S&P 500 climbed 0.7% Thursday and pulled back within 1.3% of its record set in July. The Dow Jones Industrial Average gained 0.6%, and the Nasdaq composite jumped 1%.
More gains for Nvidia and other Big Tech stocks drove the market higher, offsetting a slump for Moderna after the vaccine maker cut its plans for research-and-development investment. Treasury yields were relatively steady in the bond market following reports on layoffs and inflation that included few surprises.
On Thursday:
The S&P 500 rose 41.63 points, or 0.7%, to 5,595.76.
The Dow Jones Industrial Average rose 235.06 points, or 0.6%, to 41,096.77.
The Nasdaq composite rose 174.15 points, or 1%, to 17,569.68.
The Russell 2000 index of smaller companies rose 25.58 points, or 1.2%, to 2,129.43.
For the week:
The S&P 500 is up 187.34 points, or 3.5%.
The Dow is up 751.36 points, or 1.9%.
The Nasdaq is up 878.84 points, or 5.3%.
The Russell 2000 is up 38.02 points, or 1.8%.
For the year:
The S&P 500 is up 825.93 points, or 17.3%.
The Dow is up 3,407.23 points, or 9%.
The Nasdaq is up 2,558.32 points, or 17%.
The Russell 2000 is up 102.35 points, or 5%.
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