S&P 500 gains for fourth day to match year’s longest win streak, Dow jumps 300 points; European markets close 2% higher
U.S. stocks rose on Thursday as Wall Street built on its modest winning streak ahead of a key jobs report.
The Dow Jones Industrial Average gained 346.87 points, or about 1.12%, to close at 31,384.55. The S&P 500 added 1.50% to 3,902.62, while the Nasdaq Composite gained 2.28% to 11,621.35.
The S&P 500 notched a four-day winning streak, matching its best stretch of the year, according to Bespoke Investment Group.
Chipmakers boosted the tech sector after South Korea’s Samsung posted an 11% jump in profit and 21% surge in revenue for the latest period on strong sales of memory chips. Shares of AMD and Nvidia gained 5.2% and 4.8%, respectively. On Semiconductor jumped more than 9%.
Another notable mover was GameStop, which popped 15% after the video game retailer said a 4-for-1 stock split was approved by its board.
The pan-European Stoxx 600 provisionally closed up 2%, with mining stocks jumping 5.6% to lead gains while food and beverages stocks dropped 0.1%.
In terms of individual share price movement, Danish shipping giant Maersk climbed 7.1% on the back of a positive read-across from Chinese peer COSCO’s first-half trading update, according to Reuters.
Source: CNBC, Investing.com