The S&P 500 and Nasdaq Hit Record Highs

The S&P 500 and Nasdaq hit record highs at the end of the trading day as major Wall Street indices finished in positive territory on Thursday, with higher energy commodity prices regaining ground and employment data more to be positive once again.

As was to be expected, the main real estate market indices on the other side of the ocean closed higher, with analysts saying that the good day was due to the unemployment numbers, which returned to be positive. It is not always that these numbers, even when positive, are used for the growth of business on the stock exchange, but this Thursday, if analysts believe, that is what happened.

The Dow Jones Industrial Average closed at 35,408.05 points, up 0.27%; the S&P 500 rose to 4527.88 points, plus 0.08%; and the Nasdaq reached 15,322.40 points, plus 0.09%.

US indices had started the session higher, with the S&P 500 continuing to trade near its historic highs. The fact that requests for unemployment benefits have fallen to a new post-pandemic low of around 340,000 contributed to that. But other data this Wednesday showed that the private sector created far fewer jobs than expected in August, so the market’s rally is likely to be temporary.

The numbers show that job growth slowed to 750,000 new jobs in August, after reaching 943,000 the previous month. “You have to see big losses for people to really change their minds,” said Greg Boutle, of the BNP Paribas of the United States, quoted by the agency Reuters – showing signs of some dismay in the face of what could appear to be a good moment in the economy.

At the same time, it was also known that exports increased by 1.3% in July, which shows that the country’s economy is recovering at least to the level that was expected. But critics say the growth is endemic and not enough for real recovery. But, as always, investors were more concerned about news of the Fed’s scaling back asset-buying program.

“Most analysts don’t expect the Fed to announce ‘tapering’ plans before November at least, meaning we’ll still have three employment reports,” said Matt Weller, director of Forex.com, quoted by Bloomberg.

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The S&P 500 and Nasdaq hit record highs at the end of the trading day as major Wall Street indices finished in positive territory on Thursday, with higher energy commodity prices regaining ground and employment data more to be positive once again.

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