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6/24, 10:02 PM (Source: TeleTrader)
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US closes higher, Nasdaq, S&P hit record highs

Major equity markets on Wall Street closed the trading session on Thursday higher with Nasdaq 100 and S&P 500 reaching all-time high benchmarks at the closing bell, following United States President Joe Biden's approval of the bipartisan proposal of the American Jobs Plan. "We have an infrastructure deal," he announced. Under the bill, $973 billion will be invested over the course of five years and $1.2 trillion in eight years.

Data reports showed that US GDP expanded at a 6.4% annual rate in the first quarter and the jobless claims dropped by 7,000 from the previous week. Federal Reserve officials said the recovery has been faster than projected, but it could also cause a further rise in inflation.

Dow Jones jumped 0.95% with Boeing climbing 2.87%, while the S&P 500 grew 0.58% as Eli Lilly soared by 7.31%. The Nasdaq 100 gained 0.64% led by Pinduoduo rising by 5.02%. The euro advanced by 0.06% against the dollar to exchange hands for $1.19324 at 4:03 pm ET.

Breaking the News / LH