NEW YORK: The blue-chip Dow index hit an all-time high for the fourth straight session on Thursday as worries about rising inflation eased, while a bigger-than-expected fall in weekly jobless claims reinforced expectations of a labour market recovery.
Fewer than expected Americans filed new claims for unemployment benefits last week as an improving public health environment allows more segments of the economy to reopen.
Financial and industrials dipped on Thursday after outperforming other major S&P sectors this year as they are seen benefitting from a reopening economy. Tech and consumer discretionary, the two stay-at-home beneficiaries which had recently taken a beating, jumped 1.2% and 1.4%.
At 10:00 a.m. ET, the Dow Jones Industrial Average rose 214.88 points, or 0.67%, to 32,511.90, the S&P 500 gained 36.20 points, or 0.93%, to 3,935.01 and the Nasdaq Composite gained 231.40 points, or 1.77%, to 13,300.24.
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