NEW YORK (Pakistan Point News / Sputnik - 16th April, 2021) Wall Street's three leading stock indexes all hit record highs on Thursday, with the Dow Jones Industrial Average leading the pack in breaking above 34,000 points the first time ever, as investors responded to bullish US jobs and retail sales data pointing to a possible economic recovery.
The Dow, Wall Street's broadest stock indicator comprising mostly industrial stocks, closed up 305 points, or 0.9 percent, at 34,036, after hitting an all-time high at 34,069. For the year, the Dow is up 11 percent.
The S&P 500, which groups the top 500 stocks on the New York Stock Exchange, settled up 45 points, or 1.1 percent, at 4,169, after a record high of 4,174. Like the Dow, the S&P is also up 11 percent on the year.
The technology-laden Nasdaq Composite Index finished up 181 points, or 1.3 percent, at 14,039. Nasdaq, which groups high-flying tech stocks such as Facebook, Apple, Amazon, Netflix and Google, is up 9 percent on the year.
The number of Americans filing for jobless claims fell by 25 percent last week, according to Labor Department data that suggested the jobs market was turning the corner on the coronavirus pandemic.
The Commerce Department, meanwhile, said that US retail sales jumped 9.8 percent in March, well above forecast, as consumers spent $1,400 checks sent out by the Biden administration as relief for the pandemic.
