Fri, 23 Apr 2021

NEW YORK, New York - U.S. stock markets continued to ignore the social and financial devastation caused by the Covid-19 pandemic, on Thursday sending the Standard and Poor's 500 to a new record high.

Buyers again held sway on Wall Street. However, some were sounding a note of caution.

"While states balance the vaccine rollout with stop and start reopening plans, the labor market continues to feel the heat," Mike Loewengart, managing director of investment strategy at E*TRADE Financial told Reuters Thomson.

"But the disappointing read actually puts some firepower behind the Fed's accommodative stance," he said.

At the close on Thursday, the Dow Jones industrials were ahead 57.31 points or 0.17 percent at 33,503.57.

The Standard and Poor's 500 strengthened 17.22 points or 0.42 percent to an all-time high of 4,097.17.

The tech-laden Nasdaq Composite did best of all, rising 140.07 points or 1.03% to 13,829.31.

As stocks rose Thursday, the U.S. dollar fell. The euro advanced to 1.1912 by the New York close Thursday. The British pound tapered off a little to 1.3735. The Japanese yen was sharply higher at 109.35. The Swiss franc gained half-a-cent to 0.9243.

The Canadian dollar firmed to 1.2569. The Australian dollar was in demand at 0.7652. The New Zealand dollar rose to 0.7052.

Overseas, in Germany, the Dax rose 0.67 percent. The Paris-based CAC 40 added 0.57 percent.

In London, the FTSE 100 gained 0.83 percent.

On Asian markets, in Tokyo, the Nikkei 225 dropped 21.81 points or 0.07 percent to close Thursday at 29,708.98.

China's Shanghai Composite added 2.93 points or 0.08 percent to 3,482.55.

The Australian All Ordinaries continued its recent rally to gain another new yearly high. The key index gained 72.90 points or 1.02 percent to close at 7,250.30.

In Hong Kong, the Hang Seng advanced 333.27 points or 1.16 percent to 29008.07.

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