Fresh record close for S&P 500 | Amazon, Wells Fargo delay return to office | Friday jobs report a wild card?
EDITOR'S NOTE
The major U.S. stock indexes were higher Thursday, buoyed by energy and travel stocks in advance of a key jobs report due Friday morning.
The Dow Jones Industrial Average rose 271.58 points, closing at 35,064.25. The S&P 500 gained 0.6% to end the trading session at a record 4,429.10, while the Nasdaq Composite climbed nearly 0.8%.
Notable travel and entertainment stocks that bounced on Thursday include Caesars Entertainment, which closed 6.4% higher, and American Airlines, up 7.5%. Oil companies rallied, too, as Marathon Petroleum climbed 3.8% and Valero Energy gained 2.3%  The 10-year Treasury yield climbed back above 1.2% after briefly dipping below 1.13% Wednesday amid concerns about the delta variant of Covid-19.
Reopening stocks like General Motors, Boeing and Caterpillar finished higher, as did banks, including JPMorgan Chase and Goldman Sachs. These companies are typically viewed as cyclical stocks whose performance is tied to the path of the economy.
Meanwhile, Robinhood's stock plummeted 27.5% after the newly public company disclosed that shareholders will sell close to 97.9 million shares over time. The trading app's shares surged 50% Wednesday.
Investors are focused on the jobs report, which is out on Friday. Economists expect strong growth for the next couple of months, but there's little certainty or consensus among the forecasts as the Covid delta variant continues to spook the labor market and economy. TOP NEWS
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