Wall Street Hits Record High After US Employment Data

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Major Wall Street indices hit record highs this Friday after data showed strong US job creation in October, which, with news of a new Pfizer drug against Covid-19, boosted confidence in prospects of economic growth.

Ten of the top 11 S&P sectors were advancing, with energy, finance, and industrial gaining more than 1% each.

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The Russell 2000 index of small-caps was up 1.5%, also hitting a new peak.

The US Department of Labor report showed higher-than-expected job creation last month as Covid-19 infections declined, providing further evidence that economic activity is picking up steam at the start of the fourth quarter. .

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Pfizer Inc jumped 9.3% after the company’s experimental antiviral drug for Covid-19 reduced by 89% the chances of hospitalization or death for adults at risk for severe disease.

Among the balances, Expedia group jumped 11% after the online travel agency posted strong third-quarter revenue, while Pinterest Inc rose 3.9% on positive fourth-quarter revenue forecast.

At 12:01 pm GMT, the Dow Jones index rose 0.89% to 36,448 points, while the S&P 500 gained 0.72% to 4,713 points. The Nasdaq technology index advanced 0.56% to 16,031 points.

Reference: CNN Brasil

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