The S&P 500 and Nasdaq indexes closed today with new records, in a shorter session ahead of the US Independence Day holiday tomorrow. Investors appear to have digested the new economic statistics quite easily.
O S&P 500 closed up 0.51% to 5,537.02 units, while the Nasdaq ended at 18,188.30 units led by a rally in tech leaders like Tesla and Nvidia. Both indexes hit new all-time highs during the session and closed at record highs. This is the 33rd consecutive record high for Nasdaq.
O Dow Jones Index however, it lost 23.85 points or 0.06% of its value to close at 39,308 points, pressured by the 1.7% drop in UnitedHealth.
Trading volume was limited because the session closed early and the stock market will remain closed tomorrow, on Independence Day.
Data released today by ADP showed lower-than-expected U.S. job creation in June, while jobless claims rose more than expected last week. In addition, the services sector contracted more than expected in June, according to the ISM.
The data could have worried investors about the state of the economy, but stocks found support in fresh declines in 10-year U.S. Treasury yields.
Tesla shares rose 6.5%, posting gains for a seventh straight session — the longest stretch of gains until 2024. Nvidia shares rose 6.4%.