Stocks continued their upward momentum with some benchmarks hitting new record highs. Sentiment was driven by initial jobless claims numbers which at 285,000, remained under the key 300,000 level for the eighth week in a row. The markets also responded positively to European Central Bank chief Mario Draghi’s commitment to continuing stimulus efforts.
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While stocks continued their climb, some commodities were under pressure. Nymex Crude Oil which had snapped a four-day losing streak yesterday resumed its slide dropping almost one percent to settle at $77.91 per barrel down $0.77. Gold prices fell for the seventh session slipping $3.1 or 0.27% to settle at $1,142.60 per ounce.
All of the major indexes saw gains on the day with the Dow Jones Industrial Average hitting a new all-time high at 17,554.47 up 69.94 points or 0.40%. The S&P 500 also hit a new all-time high closing at 2,031.21 up 7.64 or 0.38%.
The NASDAQ Composite ended the session at 4,638.47 up 0.38% or 17.75 points. The Tech heavy NASDAQ 100 gained 10.81 points to close at 4,164.08 up 0.26%.
The Small cap Russell 2000 climbed 4.79 points to close at 1,171.86 up 0.41%. The Fox 50 gained 0.37% up 5.3 points to close at 1,430.46.