The S&P 500 was flat on Wednesday, but touched another record after the Federal Reserved left interest rates unchanged in its latest policy decision and hinted that it would keep easy monetary policy where it is for some time despite a strengthening economy and rising inflation.
 | THU, MAY 06, 2021 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 129.74 | +1.64 | +1.28% | | CSCO | 52.44 | +1.31 | +2.56% | | MSFT | 249.73 | +3.26 | +1.32% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAPL | 129.74 | +1.64 | +1.28% | | GE | 13.21 | UNCH | UNCH | | PFE | 39.19 | -0.39 | -0.99% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 129.74 | +1.64 | +1.28% | | PTON | 83.78 | +1.16 | +1.40% | | AMD | 77.89 | +0.06 | +0.08% | |
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The Dow Jones Industrial Average rose to a new record on Thursday, adding about 318 points to the 30-stock benchmark. The S&P 500 rose just over 0.8% and the technology-heavy Nasdaq Composite traded up about 0.4%. The broader market's gains came after better-than-expected jobless claims data. First-time claims for unemployment insurance reached 498,000 for the week ended May 1. It marked a fresh pandemic-era low, and the results beat the Dow Jones estimate of 527,000. The market will be closely watching April's jobs report, which will be released on Friday. Economists polled by Dow Jones estimate a total of 1 million payrolls to have been added last month. Further, the unemployment rate is also projected to fall to 5.8% from 6%.  Goldman Sachs is estimating 1.3 million payrolls in April on Friday. "Mass vaccinations and the easing of business restrictions likely supported rapid job growth in virus-sensitive industries, including leisure and hospitality, retail, and education (public and private)," Goldman Sachs chief economist Jan Hatzius told clients. |
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