Stocks rise for a fifth straight day led by tech, Nasdaq closes above 11,000 for the first time
 | THU, AUG 06, 2020 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 455.61 | +15.36 | +3.49% | | BA | 172.20 | -2.08 | -1.19% | | MSFT | 216.35 | +3.41 | +1.60% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAL | 13.04 | +0.48 | +3.82% | | CCL | 13.78 | -0.24 | -1.71% | | GE | 6.33 | -0.07 | -1.09% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAL | 13.04 | +0.48 | +3.82% | | AMD | 86.71 | +1.40 | +1.64% | | UAL | 34.40 | +0.67 | +1.99% | |
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Was Thursday the calm before the storm? Stocks oscillated in a tight range for most of the session before closing higher ahead of a key monthly employment report from the U.S. government. Economists polled by Dow Jones expect the data to show the economy added 1.264 million jobs in July. The highly anticipated report comes at a critical time for Wall Street as investors search for clarity on the state of the economy. Credit card data released by JPMorgan Chase earlier this week showed spending has been down around 10% or more for over a month. Meanwhile, initial weekly jobless claims have been above 1 million for 20 straight weeks, even after strong improvement in the week ended Aug. 1.  Friday's jobs data also comes as lawmakers continue negotiations on a new coronavirus stimulus package. In an interview Thursday on CNBC's "Squawk on the Street," Senate Majority Leader Mitch McConnell said both sides were still at odds over how much stimulus is appropriate. In a separate CNBC interview, House Speaker Nancy Pelosi took a shot at Republicans and their priorities, saying, "Perhaps you mistook [Republicans] for somebody who gives a damn." Pelosi added, though, that both sides will find a solution to the situation. Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. |
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