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Sept. 2, 2021, 9:42 a.m. EDT

S&P 500, Nasdaq Composite open in record territory after jobless claims report hits pandemic low

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By Mark Decambre

The S&P 500 and the Nasdaq Composite opened in record territory Thursday morning, after weekly data on the labor market came in at a pandemic-era low. Jobless claims, a proxy for layoffs, dropped to 340,000, reaching the lowest level since the COVID-19 pandemic gripped the market in the spring and summer of 2020. The report comes ahead of a highly anticipated report on employment due on Friday, which many think could set the timing for the Federal Reserve's tapering of crisis-era asset purchases that had added liquidity to financial markets. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.17% rose 117 points, or 0.3%, at 35,431. The S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.84% climbed 18 points, or 0.4%, to 4,542, and set an intraday record high at 4,542.83, while the Nasdaq Composite index /zigman2/quotes/210598365/realtime COMP -1.92% traded 0.4% higher at 15,366, after establishing its own intraday record at 15,380.07. The Nasdaq closed at a record on Wednesday.

US : Dow Jones Global
-59.71 -0.17%
Volume: 444.85M
Dec. 3, 2021 5:35p
-38.67 -0.84%
Volume: 2.71B
Dec. 3, 2021 5:35p
US : Nasdaq
-295.85 -1.92%
Volume: 4.96M
Dec. 3, 2021 5:16p

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