- The S&P 500 closed at a record high on Thursday for the 63rd time in 2021 after encouraging jobless claims data.
- Filings for unemployment insurance fell to 269,000 last week, better than estimates of 275,000.
- Technology shares have led the market higher following the Fed’s taper announcement.
US stocks were mixed on Thursday, but the S&P 500 closed at a record high for the 63rd time so far this year.
The move higher was driven by technology stocks, which surged amid a weeks-long decline in the 10-year Treasury yield and the Fed’s decision to taper its monthly bond buying program.
Jobless claims hit another pandemic-era low of 269,000, better than the 275,000 estimate. Continuing claims slid to 2.11 million for the week that ended October 23, also beating forecasts. The solid figures come as hiring once again picks up in the hospitality sector.
Here’s where US indexes stood at the 4:00 p.m. ET close on Thursday:
Cathie Wood’s Ark Invest sold nearly 4 million shares of Zillow on Wednesday after the real estate company plunged 25% on its departure from the home-flipping business.
Shiba Inu fell 14% on Thursday as the second-biggest whale wallet moved $2.3 billion of the tokens to multiple wallets.
Personal finance website NerdWallet went public on Thursday, surging as much as 91% and hitting a valuation of more than $2 billion.
The Bank of England held interest rates at record lows on Thursday despite previously hinting at a potential hike to combat rising inflation.
Gold climbed as much as 1.74% to $1,794.60 per ounce.