Stocks Edge Higher Despite Jobless Claims Data – The Wall Street Journal


U.S. stocks edged higher Thursday as investors’ optimism over stronger-than-expected earnings overshadowed signs that the labor market is still struggling to recover.

The S&P 500 and Dow Jones Industrial Average rose in recent trading after swinging between gains and losses for much of the day. The broad benchmark index gained 0.2%, while the Dow rose about 50 points, or 0.2%.

The Nasdaq Composite also rallied, gaining 0.7%, propelled higher by stocks including Apple and .

Despite a turbulent start to 2021, U.S. stocks have largely continued to climb, with all three indexes currently up 2% or more year-to-date. The Nasdaq, in particular, has posted a strong performance, gaining 5% for the year, while the Russell 2000 index of small-cap stocks has risen 8.8%.

Driving some of those gains has been optimism that further economic recovery may be ahead under President Biden’s new administration. Mr. Biden has called for a $1.9 trillion Covid-19 relief plan that includes direct payments to households and more money for testing and vaccine distribution. On Wednesday, the day that Mr. Biden took office, the S&P 500 and the Dow posted their best Inauguration Day performances since 1985, when Ronald Reagan was sworn in for his second term, according to Dow Jones Market Data.


Please enter your comment!
Please enter your name here