Stocks closed higher on Wall Street Thursday after a report showed the pace of layoffs across the country is slowing, though it remains incredibly high.
Technology and communication services stocks powered the rally, which extended the S&P 500's winning streak to a fifth day. The benchmark index is now within 1.1% of the record high it set in February. The Nasdaq closed at another record high.
The S&P 500 rose 21.39 points, or 0.6%, to 3,349.16.
The Dow Jones Industrial Average climbed 185.46 points, or 0.7%, to 27,386.98.
The Nasdaq composite added 109.67 points, or 1%, to 11,108.07.
The Russell 2000 index of small company stocks slipped 1.61 points, or 0.1%, to 1,544.62.
For the week:
The S&P 500 is up 78.04 points, or 2.4%.
The Dow is up 958.66 points, or 3.6%.
The Nasdaq is up 362.80 points, or 3.4%.
The Russell 2000 is up 64.20 points, or 4.3%.
For the year:
The S&P 500 is up 118.38 points, or 3.7%.
The Dow is down 1,151.46 points, or 4%.
The Nasdaq is up 2,135.47 points, or 23.8%.
The Russell 2000 is down 123.85 points, or 7.4%.