On the 8th (local time), on the U.S. New York stock market, the S&P 500 and the Nasdaq Composite again hit a record high. The S&P 500 closed at 7,398.93, up 61.82 points (0.84%) from the previous session, and the Nasdaq Composite ended at 26,247.08, up 440.88 points (1.71%) from the previous session.
Both indexes have risen for six straight weeks.
The Nasdaq Composite has set a record high 11 times this year.
Stronger-than-expected employment data and a semiconductor rally acted as the drivers of gains. Nonfarm payrolls for April released by the U.S. Department of Labor increased by 115,000 from the prior month, more than double the market forecast of 55,000. Strength in semiconductor stocks is driving the indexes higher, and Intel shares in particular jumped nearly 14% on reports that it won a contract to produce Apple's in-house designed chips.
The Dow Jones Industrial Average finished at 49,609.16, up 12.19 points (0.02%) from the previous session.
Reuters said, "Investors focused on strong earnings releases by corporations as the S&P 500 and the Nasdaq Composite hit a record high," adding, "Concerns about inflation driven by high oil prices appear to have relatively eased."