Dow Jones index hits record high
The Dow Jones on Thursday hit a new record at the close of stock trading for the second day in a row on the back of positive momentum in the US economic recovery.
The Dow Jones rose 318.19 points (0.93 per cent) to settle at 34,548.53 points, according to data posted on the New York Stock Exchange website. The previous record was set last Wednesday, and before that the industrial index rose to a record high in mid-April.
The S&P 500 index added 34.03 points (0.82%) on Thursday to end at 4,201.62 points. The Nasdaq electronic exchange index rose 50.41 points (0.37%) to 13,632.84 points.
However, Business Insider notes that the growth of indices was caused by the positive dynamics of economic recovery in the USA amid the pandemic of a new coronavirus. In particular, investors consider data on the labour market as one of the positive factors. According to the relevant US agency, the number of US residents who applied for initial unemployment benefits during the last week was 498,000, dropping below 500,000 for the first time since the start of the pandemic.
WTI crude fell in price, with the price of energy supplies down 0.39 dollars (0.6%) to 64.92 dollars in June.