Xinhua/Wang Ying/ Getty Images
After Thursday's jobless claim drop to its lowest point since March 2020, record highs were set for the S&P 500 as well as Nasdaq.
Last week's jobless claims were 340,000, which is lower than the Bloomberg economist estimate of 345,000.
The week's continuing claims were 2.75 million, slightly lower than the estimates.
Subscribe to our daily newsletter 10 Things Before The Opening Bell.
The US stock market moved higher Thursday after the record low in jobless claims, which fell to their lowest level since March 2020, saw both the S&P 500 (Nadaq) and the S&P 500 (S&P 500) reach new records.
Last week's jobless claims dropped to 340,000, surpassing economist estimates of 345,000. Continuing claims were slightly lower than estimates at 2.75 million last week.
The data on jobless claims indicates continued strength in the economic recovery of COVID-19. This coincides with a strong quarter earnings season for S&P 500 companies.
Here are the US indexes shortly after the 9:30 AM. ET opens on Thursday
Chewy shares plunged 10% after second quarter earnings results that missed analysts' estimates and showed a slowdown in growth.
Binance's US division is looking at an IPO in the next three-years as cryptocurrency interest grows among investors.
Cardano's Ada cryptocurrency rose above $3 on Thursday, after smart contracts were enabled by network upgrades.
JPMorgan believes that the rise in retail trading has spilled over into cryptocurrency altcoins, which have seen a surge of popularity this summer.
Oil prices jumped. West Texas Intermediate crude rose as high as 1.30% to $69.48 per barrel. Brent crude oil, the international benchmark for oil, increased 1.10% to $72.38 per barrel.
Gold dropped as high as 0.08% to $1,814.60 an ounce.
