The stock market in the United States has smashed a record high after a consistent string of downbeat trading sessions, Africa Today News, New York reports.
All three leading stock indexes rose on Thursday, bring a three-day lull to end.
The S&P 500, which tracks the performance of 500 of the largest US companies, finished up 0.9 percent on Thursday, surpassing last week’s record.
The rise leaves the benchmark index up more than 10 percent so far in 2024.
The Dow Jones Industrial Average and Nasdaq Composite rose 1.22 percent and 0.51 percent, respectively.
Among the big corporate players, Apple and Tesla climbed 2.12 percent and 1.22 percent, respectively, while semiconductor company Nvidia Corp declined 2.5 percent.
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Pharmaceutical giant Merck climbed 5 percent after announcing that the US Food and Drug Administration had approved its drug Winrevair to treat pulmonary arterial hypertension.
Cruise line Carnival rose 1 percent after the company raised key earnings and revenue projections and revised its costs downward.
Cintas, an office supplies company, surged 8.2 percent after reporting a better-than-expected profit for the latest quarter.
Trump Media & Technology Group, former US President Donald Trump’s social media company, rose 14.2 percent, continuing its rally after surging 16 percent in its market debut the previous day.
Investors are anticipating the release of key US economic data this week, including updated figures on jobless claims, gross domestic product and consumer sentiment.
In another report, at least one civilian has been confirmed dead and 16 others badly wounded after Russia struck the northeastern city of Kharkiv with aerial bombs on Thursday for the first time since 2022.
The airstrikes caused widespread damage, hitting several residential buildings and damaging the city’s institute for emergency surgery.
Africa Today News, New York reports that in recent times, Russia has escalated its attacks on Ukraine, launching several missile barrages on the capital Kyiv and hitting energy infrastructure across the country in apparent retaliation for recent Ukrainian aerial attacks on the Russian border region of Belgorod. Such sporadic attacks, however, have been common throughout the war.
The Kharkiv region cuts across the front line where Ukrainian and Russian forces have been locked in battles for over two years since Moscow’s full-scale invasion of Ukraine in February 2022. The region is frequently attacked with missiles and drones.