NEW YORK: Wall Street rose on Thursday after a record-setting increase in monthly US jobs, but surging Covid-19 cases raised fears of more lockdowns and kept gains in check.
The Nasdaq opened at an all-time high after data showed the US economy created 4.8 million jobs in June, the most since the government began keeping records in 1939, but later pared gains on reports of another spike in infections across the country.
At 11:51 a.m. ET, the Dow Jones Industrial Average was up 242.46 points, or 0.94%, at 25,977.43, the S&P 500 was up 29.58 points, or 0.95%, at 3,145.44, and the Nasdaq Composite was up 108.35 points, or 1.07%, at 10,262.98.
Ten of the 11 major S&P sectors were trading higher and gains were led by industrials, basic materials and energy stocks.
Tesla jumped 7.4% after beating Wall Street estimates for second-quarter vehicle deliveries.
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