The S&P 500 is at a record high
The S&P 500 made a flying start to the second half of the year, reaching record levels on Thursday, as the weekly jobless claims figures surpassed expectations.
The S&P 500 is up by 0.3% on Thursday to a record high of 310.85. Year-to-date it has now added 16.49%.
At the time of writing, the Dow Jones is up by 0.24%, and 14.43% since the turn of the year.
Data revealed by the Department of Labor showed that initial unemployment claims dropped to 364,000, down by 51,000 during the week ended 26 June.
Estimates by economists were at a significantly higher level of 410,000.
While there is a shortage in the supply of labour, companies have been reluctant to let employees go.
The continued success of the vaccine roll-out has helped to slow the rate of infections as local governments have been emboldened to ease restrictions.
Many have taken up the opportunity to get the vaccine, which has raised confidence levels among consumers, and raised spending, especially on things people were unable to buy or do over the past year.
In order to match the increased levels of demand, firms are hiring more and more people.