S&P 500, Nasdaq Snag Record Closes Ahead of August Jobs Report

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S&P 500, Nasdaq Snag Record Closes Ahead of August Jobs Report

The Dow finished the day up 131 points, snapping a three-day losing streak, while the S&P 500 and Nasdaq both eked out record closes. Ahead of tomorrow’s highly anticipated August jobs report, initial jobless claims for last week came in at 340,000 — a new pandemic-era low and below analyst estimates of 345,000. Elsewhere, U.S. factory orders rose a higher-than-expected 0.4% in July.

Continue reading for more on today’s market, including:

  • Pizza name with promising returns in September, historically. 
  • Why Oracle stock looks like a good pick for bulls
  • Plus, what analysts have to say about FIVE; WKHS attempts to bounce back; and a listen in on our latest Market Mashup podcast.

The Dow Jones Average (DJI – 35,443.82) gained 131.3 points, or 0.4%. Walgreens Boots Alliance (W(BA)) led the Dow winners today with a 3% gain, while Visa (V) paced the laggards with a 2.6% loss.

The S&P 500 Index (SPX – 4,536.95) added 12.9 points, or 0.3%, while the Nasdaq Composite (IXIC – 15,331.18) jumped 21.8 points, or 0.1%.

Lastly, the Cboe Volatility Index (VIX – 16.41) rose 0.3 point, or 1.9%.

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  1. The bipartisan infrastructure bill mandates new technology to prevent drunk driving, involving a breath or touch-based function. (MarketWatch)
  2. Looking back at the scope of the $794 billion in unemployment benefits during the pandemic. (CNBC)
  3. Behind FIVE’s plummet following its mixed second-quarter report.
  4. Checking in on Workhorse stock after yesterday’s investigation news. 
  5. If you haven’t already, check out the most recent Schaeffer’s Market Mashup, featuring Schaeffer’s Senior V.P. of Research Todd Salamone. 

Oil Jumps to Highest Level in a Month

Oil prices rose to their highest level in a month, despite the commodity grappling with a drop in inventory on the heels of Hurricane Ida and newCovid-19 variants. October-dated crude rose $1.40, or 2%, to settle at $69.99 a barrel. 

Gold prices fell for the second day, as investors await tomorrow’s jobs data for direction. December-dated gold lost $4.50, or nearly 0.3%, to settle at $1,811.50 an ounce. 

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

S&P 500, Nasdaq Snag Record Closes Ahead of August Jobs Report]

Tags: Workhorse Stock, NASDAQ: WKHS

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