5/6, 10:02 PM (Source: TeleTrader)
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Dow jumps over 300 pts to new record closing high

Stocks on Wall Street ended the session on Thursday higher with the Dow Jones notching a new record close amid increased optimism surrounding the economy.

Earlier in the day, better-than-expected initial jobless claims figures were released, revealing first-time claims for unemployment insurance reached 498,000 last week. Meanwhile, investors were awaiting Friday's nonfarm payrolls report for April. On the earnings front, Beyond Meat, Dropbox and AIG were scheduled to publish their quarterly results after the closing bell.

The Dow Jones climbed 318 points at the end of trading led higher by Cisco and Goldman Sachs. The S&P 500 jumped 0.82% as Iron Mountain soared over 7% as the top performer. The Nasdaq 100 closed 0.82% in the green; T-Mobile and Fox were among the strongest performers after reporting upbeat earnings earlier this week.

Breaking the News / JC