The S&P 500 ground higher for a sixth straight day to close at another record Thursday.
 | THU, NOV 04, 2021 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 150.96 | -0.53 | -0.35% | | VZ | 51.85 | -1.09 | -2.06% | | INTC | 50.31 | +0.27 | +0.53% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | F | 19.42 | +0.79 | +4.24% | | NVDA | 298.01 | +32.03 | +12.04% | | AMD | 137.50 | +6.97 | +5.34% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | NVDA | 298.01 | +32.03 | +12.04% | | AMD | 137.50 | +6.97 | +5.34% | | AAPL | 150.96 | -0.53 | -0.35% | |
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The S&P 500 ground higher for a sixth straight day to close at another record Thursday. The highly anticipated October jobs report — which will be released on Friday morning — is expected to determine where the market goes from here.
The broad equity benchmark gained 0.4%, while the tech-heavy Nasdaq Composite rose 0.8% to an all-time high. The Dow Jones Industrial Average dipped from a record as Goldman Sachs and JPMorgan struggled.  Hiring is expected to have picked up at a solid pace as Covid receded and the economy improved. Economists expect 450,000 jobs were added last month, up from just 194,000 in September, according to Dow Jones. The unemployment rate is expected to fall to 4.7% from 4.8%. On Thursday, investors digested good news on the labor market front as weekly jobless claims came in better than expected. First-time claims totaled 269,000 for the week ended Oct. 30, the lowest pandemic-era total and lower than the 275,000 expected by economists polled by Dow Jones. "This could stand as another proof point of solid gains when it comes to our economic recovery," Mike Loewengart, managing director of investment strategy at E-Trade Financial. "But Chairman Powell noted he wants to see more robust jobs progress, so all eyes will be on the full employment picture tomorrow and how that will translate to the Fed's actions going forward." The Federal Reserve said Wednesday that it will begin to slow its bond-buying program later this month, signaling that the economy can now handle an unwinding of pandemic stimulus. Investors took solace in the central bank's patient approach to rate hikes as the Fed made clear that the end of the bond purchases is not a trigger for rate increases. |
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