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Stocks extend gains following jobless report

Stocks extend gains following jobless report
© BRYAN R. SMITH/AFP/Getty Images

Stock markets extended gains Thursday morning following a jobless report that beat Wall Street expectations.

The Dow Jones Industrial Average rose 100 points, or 0.3 percent, above its record Wednesday close, while the S&P 500 neared its own record, rising 30 points, or 0.8 percent. The Nasdaq added 237 points, or 1.8 percent.

Weekly jobless claims earlier Thursday came in at a seasonally adjusted 712,000, below the 725,000 Wall Street expected and just a hair above the pandemic low seen in early November.

Wednesday's House passage of President BidenJoe BidenVirginia GOP gubernatorial nominee acknowledges Biden was 'legitimately' elected BuzzFeed News finds Biden's private Venmo account Kid reporter who interviewed Obama dies at 23 MORE's $1.9 trillion relief bill could push things along further. The bill extends expiring emergency unemployment program and injects a massive shot of stimulus into the economy.

Stocks have surged in recent days as concerns over inflation have begun to recede and spiking bond yields have retreated.