October 17, 2021

Dow, S&P 500, Nasdaq set fresh record highs after June payrolls beat estimates

Stocks rose Friday to record levels as investors digested a key print on the U.S. labor market recovery, which pointed to a faster pace of payroll gains than expected. 

The S&P 500 set another record high, kicking off the first sessions of the third quarter on a high note. The blue-chip index logged a seventh straight day of gains in its longest winning streak since August 2020. The Nasdaq also hit all-time intraday and closing highs, and the Dow gained to set its first record high since May 7. Shares of Tesla (TSLA) fluctuated before ending slightly higher after the electric car-maker’s second-quarter deliveries hit a new record but still missed analysts’ estimates, based on Bloomberg consensus data.

Investors considered the U.S. Labor Department’s June jobs report, the central economic data point that came out this week. The print showed a stronger-than-anticipated acceleration in…

Read full article here: finance.yahoo.com