S&P 500 hits sixth-straight record, Dow adds 100 points as Wall Street kicks off the second half; European markets close higher, kicking off the second half of 2021 on a positive note
The S&P 500 rose on Thursday and hit another record high as Wall Street kicked off the second half of 2021 on a positive note.
The benchmark index rose 0.5% and notched its sixth-straight record close, closing above 4,300 for the first time. The Dow Jones Industrial Average was higher by about 131 points, while the tech-heavy Nasdaq Composite ticked up about 0.1%.
The rise for stocks was widespread, with energy stocks leading the way as West Texas Intermediate crude rose above $75 per barrel. Shares of Chevron rose 1.4%, making the stock one of the best performers in the Dow.
Apparel company Nike was another winner, rising more than 2%. However, shares of Walgreen Boots Alliance fell more than 6% despite releasing a better-than-expected earnings report, weighing on the 30-stock average.
A stretch of strong economic news continued on Thursday as weekly initial jobless claims came in at 364,000, setting a pandemic-era low. Economists polled by Dow Jones are expecting initial claims for unemployment totaled 390,000 last week, after totaling 415,000 for the week ended June 19.
The pan-European Stoxx 600 ended the session up by 0.6%, with oil and gas shares adding 2.1% while travel and leisure stocks rose 1.9% to lead the gains. Most major bourses finished in positive territory.
In terms of individual share price action, Associated British Foods climbed 4.8% after raising its flagship retail chain Primark’s full-year outlook.
Toward the bottom of the European blue chip index, Luxembourgish real estate company Grand City Properties fell 2.5% after a dividend announcement.
Source: CNBC, Investing.com