The Nasdaq powered its way to a fresh record on Thursday, shrugging off a stalemate in Washington on the latest emergency spending package.[NEW YORK] The Nasdaq powered its way to a fresh record on Thursday, shrugging off a stalemate in Washington on the latest emergency spending package.
The tech-rich Nasdaq Composite finished up with a gain of 1.0 per cent at 11,108.07, its fourth straight all-time high and the first close above 11,000 points. The Dow Jones Industrial Average gained 0.7 per cent to end the session at 27,386.98, while the broad-based S&P 500 climbed 0.6 per cent to 3,349.16.
New applications for jobless benefits returned to a downward path after two weeks of increases, hitting a new pandemic low. However, the 1.2 million figure for first-time unemployment applications remains exceptionally high by historic standards. Meanwhile, talks in Washington on a new emergency spending plan and expanded unemployment payments continued to drag on with Democratic leaders and President Donald Trump's economic team still far apart.
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