CHICAGO (CBS) — Stocks closed higher on Thursday, with all three of the major indices posting record closes, as investors sifted through encouraging economic data ahead of Friday’s key jobs report. The S&P 500 gained 18, the NASDAQ added 48 and the Dow Jones industrial average closed up nearly 136 points, settling to 21,144.
“The propensity of this market right now is upward and I think you are starting to see more evidence of capitulation. You will get even more evidence of that if you see the Dow Jones transportation average go to an all-time high, that’s really the next thing that needs to happen,” said Chuck Carlson, CEO of Horizon Investment Services
He also noted that the three main engines of stock market performance are inflation, interest rates and corporate profits.