Stocks on Wall Street closed with sharp gains on Thursday with the Dow Jones finishing the session above 34,000 points for the first time ever and the Nasdaq 100 notching a record close as well.
Today’s rally on Wall Street comes after strong economic data suggested the US economy is on pace for a recovery from the coronavirus pandemic following a new round of stimulus and continued progress in vaccinations across the country.
Earlier in the day, the Census Bureau revealed that retail sales jumped 9.8% in March, leading President Joe Biden to proclaim that “America is coming back.” Meanwhile, investors digested a string of corporate earnings released prior to the session. The Dow Jones jumped 0.90% to reach 34,035.99 points at the closing bell. UnitedHealth Group was the strongest performer, soaring nearly 4%. The S&P 500 surged 1.11% at the end of trading with chip stocks leading the gains. The Nasdaq 100 rallied 1.61% to 14,026.195 points; Advanced Micro Devices and NVIDIA leaped over 5%. Nick Note: Rock on……. looks to me we still got some traction to the upside……