US closes higher, S&P hits sixth consecutive record high

Thursday, 01. July 2021 22:01

United States major stock markets closed mostly higher on Thursday on economic recovery optimism. The number of initial jobless claims dropped to a new pandemic low, signaling a return of workers into the labor force. Nevertheless, the manufacturing activity did not exceed last month's. According to ISM's report, it decreased reaching 60.6%, while the IHS Markit said the PMI remained unchanged compared to May.

Shares of fuel and energy companies led the markets as oil prices spiked ahead of OPEC+ meetings and West Texas Intermediate surpassed the $75 threshold reaching the highest level since October 2018. Walgreens stocks plunged following its earnings report, despite a better than expected financial performance.

The Dow Jones gained 0.38% with Nike growing by 2.27%, while the S&P 500 jumped 0.52% as Diamondback Energy soared 6.08%. The Nasdaq 100 closed flat with 0.04% in the green led by Regeneron Pharmaceuticals rising 2.88%. The euro slid by 0.12% against the dollar to trade for $1.18434 at 3:57 pm ET.

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Breaking the News / LH