Dow, S&P 500 book back-to-back-back closing records for the first time in 5 months

All three main equity benchmarks closed higher Thursday and the Dow and S&P 500 booked a third straight record finish after fresh labor-market data provided insight on the pace of the recovery. The moves for stocks came even as a reading for wholesale inflation came in hotter than expected. The Dow Jones Industrial Average closed up less than 0.1% at 35,499, the S&P 500 index advanced 0.3% to 4,460, led by gains in health care and technology . The S&P 500 and the Dow closed at records in three consecutive sessions for the first time since March 15, according to Dow Jones Market Data. Meanwhile, the Nasdaq Composite Index advanced 0.4% at 14,816. Economic data showed first-time claims for jobless benefit benefits came in at 375,000 last week, matching estimates and near a pandemic low. The producer-price index was up 7.8% year over year in July versus 7.3% in June, while the core PPI reading, which excludes food and energy, accelerated to 6.1% from 5.5%. In corporate news, shares of Shares of Palantir Technologies Inc. rose more than 11% after the data analysis company posted stronger-than-expected revenue for the second quarter and reiterated long-term guidance. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Dow, S&P 500 book back-to-back-back closing records for the first time in 5 months
All three main equity benchmarks closed higher Thursday and the Dow and S&P 500 booked a third straight record finish after fresh labor-market data provided insight on the pace of the recovery. The moves for stocks came even as a reading for wholesale inflation came in hotter than expected. The Dow Jones Industrial Average closed up less than 0.1% at 35,499, the S&P 500 index advanced 0.3% to 4,460, led by gains in health care and technology . The S&P 500 and the Dow closed at records in three consecutive sessions for the first time since March 15, according to Dow Jones Market Data. Meanwhile, the Nasdaq Composite Index advanced 0.4% at 14,816. Economic data showed first-time claims for jobless benefit benefits came in at 375,000 last week, matching estimates and near a pandemic low. The producer-price index was up 7.8% year over year in July versus 7.3% in June, while the core PPI reading, which excludes food and energy, accelerated to 6.1% from 5.5%. In corporate news, shares of Shares of Palantir Technologies Inc. rose more than 11% after the data analysis company posted stronger-than-expected revenue for the second quarter and reiterated long-term guidance. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.