Stocks closed higher on Wall Street Thursday after a report showed the pace of layoffs across the country is slowing, though it remains incredibly high.
Technology and communication services stocks powered the rally, which extended the S&P 500’s winning streak to a fifth day. The benchmark index is now within 1.1% of the record high it set in February. The Nasdaq closed at another record high.
The S&P 500 rose 21.39 points, or 0.6%, to 3,349.16.
The Dow Jones Industrial Average climbed 185.46 points, or 0.7%, to 27,386.98.