S&P 500 rises as tech gains offset weak US data

NEW YORK: The S&P 500 and Nasdaq advanced on Thursday, as gains in heavyweight tech stocks outweighed downbeat data that affirmed the Federal Reserve's view of a difficult road to economic recovery.

"It's a little disconcerting to get over the 1 million mark in jobless claims, but this just indicates that it's not going to be a straight line recovery," said Sam Stovall, chief investment strategist at CFRA Research in New York. The S&P 500 and Nasdaq retreated from record levels on Wednesday after minutes from the Fed's latest policy meeting gave a somber assessment of the U.S. economy as it grapples with the pandemic, but ruled out, for now, more dovish easing policy measures.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US: S&P 500, Nasdaq end at records as Dow retreats[NEW YORK] The S&P 500 on Tuesday notched its first closing record since February, joining the Nasdaq in scaling historic heights and underscoring the recovery from March lows amid the coronavirus. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Say goodbye to the shortest bear market in S&P 500 historyWell, that was quick!
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

S&P 500 notches record high for second day after Target, Lowe's results beatU.S. stock index futures edged higher on Wednesday following solid earnings from retailers Target and Lowe's, a day after the S&P 500 completed ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »