Shares gained on Thursday to achieve new report ranges, including to advances after the key indexes closed out a powerful second quarter and first half of the 12 months.

The S&P 500 set a contemporary report intraday and shutting excessive, and every of the Dow and Nasdaq additionally edged up. The blue-chip index gained 14.4% for the 12 months to this point by means of Wednesday’s shut, and ended June with a greater than 2% achieve for a fifth straight month-to-month rise. A batch of sturdy financial information helped propel equities larger, with personal payrolls rising by a better-than-expected 692,000 in June and new jobless claims falling to a brand new pandemic-era low, with each prints pointing to a probably sturdy print within the Labor Division’s “official” June jobs report on Friday.

For the April by means of June quarter, the knowledge know-how, actual property and communication providers sectors outperformed amid a broad-based rotation again into know-how and progress shares. The rotation coincided with lessened considerations over inflationary pressures, as traders thought of indicators that value will increase could be solely transitory within the early levels of the restoration. The cyclical power and monetary sectors, nonetheless, are nonetheless the very best performers for the year-to-date. 

“I nonetheless suppose power and financials are a good place to be,” Shawn Snyder, Citi U.S. Wealth Administration head of funding technique, advised Yahoo Finance. “And I feel that whilst we have seen the 10-year Treasury yield decline over the previous three months as inflation expectations got here down a bit, I nonetheless suppose odds are yields will transfer larger over time … and people sectors which can be delicate to rates of interest, that are power and financials, I nonetheless suppose make sense.”

“What we’re taking a look at is shifting a bit bit away from the U.S. and extra in direction of areas that have not recovered totally,” he added, noting for instance that U.Ok. equities commerce at a big low cost to lots of these within the U.S. “Within the U.S., I’d say airways, leisure and hospitality, haven’t totally recovered but in comparison with the place they had been previous to this pandemic. So I feel there’s nonetheless room to run there.” 

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Different strategists additionally recommended that the tug-of-war between cyclical and progress shares will doubtless proceed into the second half of the 12 months. 

“In the future, it is progress is in favor. The following day, worth’s in favor. A whole lot of that’s being pushed by rates of interest and ideas on the Fed,” Chris Hodge, chief funding officer of Cornerstone Wealth, advised Yahoo Finance. “There is definitely no query as we hit the summer season stoop, the canine days, so to say, that markets haven’t but actually selected what the subsequent transfer goes to be.” 

“We’re passing by means of the best compares in trendy historical past, evaluating in opposition to the COVID shutdowns. So sadly, we expect numerous the simple cash has been made in 2021,” he added. “Going ahead, the trail goes to be a bit harder, as we expect we’re in for some progress deceleration and, hopefully, some leveling off on the inflation entrance as effectively.”

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4:05 p.m. ET: Shares kick off first session of Q3 larger; S&P 500 rises to all-time excessive

Right here had been the primary strikes in markets as of 4:05 p.m. ET:

• S&P 500 (^GSPC): +22.43 (+0.52%) to 4,319.93

• Dow (^DJI): +131.02 (+0.38%) to 34,633.53

• Nasdaq (^IXIC): +18.42 (+0.13%) to 14,522.38

• Crude (CL=F): +$1.50 (+2.04%) to $74.97 a barrel

• Gold (GC=F): +$4.40 (+0.25%) to $1,776.00 per ounce

• 10-year Treasury (^TNX): +3.7 bps to yield 1.4800%

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1:44 p.m. ET: Robinhood recordsdata prospectus to go public 

On-line buying and selling platform Robinhood filed its S-1 prospectus with the U.S. Securities and Alternate Fee on Thursday, marking a big step ahead within the firm’s plan to go ahead with an preliminary pubic providing. 

Within the submitting, Robinhood mentioned it had month-to-month lively customers of 17.7 million as of March 2021 and estimated that almost half of all its new accounts had been created by first-time traders. Whole income grew 245% to $959 million between the tip of December 2019 and December 2020. The corporate was worthwhile in 2020, enhancing from a loss in 2019, however misplaced $1.4 billion within the first three months of 2021 amid a surge in retail buying and selling. 

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11:51 a.m. ET: 130 nations conform to U.S. minimal company tax proposal, Yellen says

Treasury Secretary Janet Yellen mentioned Thursday that 130 nations representing 90% of world gross home product have agreed to assist the USA’ proposed international minimal company tax fee of a minimum of 15%. 

The transfer, which the Biden administration has mentioned for months, will “be certain that companies shoulder a justifiable share of the burden,” Yellen said in a Twitter post.

“As we speak is an historic day for financial diplomacy. For many years, the USA has participated in a self-defeating worldwide tax competitors, reducing our company tax charges solely to look at different nations decrease theirs in response,” Yellen mentioned. “The consequence was a world race to the underside.”

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10:25 a.m. ET: U.S. manufacturing exercise cooled greater than anticipated in June: ISM 

U.S. manufacturing sector exercise retreated greater than anticipated in June, reaching the bottom stage since January.

The Institute for Provide Administration’s June buying managers’ index for manufacturing facility exercise fell to 60.6. This got here following a print of 61.2 in Could, and got here in under the 60.9 anticipated, in accordance with Bloomberg consensus information. 

Beneath the headline index, costs paid reached the best since 1979, signaling ongoing inflationary pressures throughout provide chains. Nevertheless, the employment index dipped under 50, falling into contractionary territory for the primary time since November 2020, amid labor provide shortages. 

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9:38 a.m. ET: Crude oil touches highest stage since October 2018 on reopening hopes

U.S. West Texas intermediate crude oil futures reached as excessive as $76.11 Thursday morning, including to positive factors after a string of financial information got here in stronger than anticipated and bolstered prospects of a stable financial restoration.

The extent marked the best since October 2018, and neared an nearly seven-year excessive of $76.90. The commodity’s costs have rebounded and risen 56% up to now for the year-to-date, with optimism over elevated client mobility and journey and gasoline demand serving to push costs larger. Crude oil costs are additionally up sharply in comparison with 2019, rising 28% over the previous two years. 

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9:31 a.m. ET: Shares open larger 

This is the place markets had been buying and selling simply after the opening bell Thursday morning: 

• S&P 500 (^GSPC): +8.48 (+0.2%) to 4,305.98

• Dow (^DJI): +58.71 (+0.17%) to 34,561.22

• Nasdaq (^IXIC): +7.79 (+0.05%) to 14,513.29

• Crude (CL=F): +$2.30 (+3.13%) to $75.77 a barrel

• Gold (GC=F): +$10.40 (+0.59%) to $1,782.00 per ounce

• 10-year Treasury (^TNX): +1.5 bps to yield 1.459%

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8:35 a.m. ET: New jobless claims dipped again under 400,000 for the primary time in three weeks

Preliminary unemployment claims improved greater than anticipated to fall under 400,000 for the primary time in three weeks, resuming a downward pattern as labor market circumstances improved additional.

New weekly filings got here in at 364,000 for the week ended June 26, the Labor Division mentioned Thursday. This beat consensus expectations for 388,000, in accordance with Bloomberg information. In the course of the prior week, claims totaled 415,000. 

Persevering with jobless claims, nonetheless, had been larger than anticipated. These got here in at 3.469 million versus the three.34 million anticipated and the upwardly revised 3.413 million throughout the earlier week.

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7:02 a.m. ET Thursday: Inventory futures level to a combined open

This is the place markets had been buying and selling Thursday morning:

• S&P 500 futures (ES=F): 4,287.5, -1 level (-0.02%)

• Dow futures (YM=F): 34,413.00, +14 factors (+0.04%)

• Nasdaq futures (NQ=F): 14,506.25, -42.74 factors (-0.29%)

• Crude (CL=F): +$1.52 (+2.07%) to $74.99 a barrel

• Gold (GC=F): +$2.90 (+0.16%) to $1,774.50 per ounce

• 10-year Treasury (^TNX): +3.6 bps to yield 1.48%

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6:15 p.m. ET Wednesday: Inventory futures add to positive factors 

This is the place markets had been buying and selling into the in a single day session on Wednesday: 

• S&P 500 futures (ES=F): 4,294.75, +6.25 factors (+0.15%)

• Dow futures (YM=F): 34,457.00, +58 factors (+0.17%)

• Nasdaq futures (NQ=F): 14,558.50, +9.50 factors (+0.07%)

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Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck