Dow35064.25+271.58(0.78%)Nasdaq14895.10+114.58(0.78%)SP 5004429.10+26.44(0.60%)10-yr Note -24/321.211NYSEAdv 2179 Dec 1059 Vol 793.2 mlnNasdaqAdv 3020 Dec 1341 Vol 4.0 bln Industry Watch Strong: Energy, Financials, UtilitiesWeak: Health Care, Materials Moving the Market -- S&P 500 and Nasdaq close at record highs-- Encouraging economic data helped liven up risk sentiment -- Growth and value stocks rose alike -- 10-yr yield increased back above 1.20% S&P 500 and Nasdaq close at new highsDow +271.58 at 35064.25, Nasdaq +114.58 at 14895.10, S&P +26.44 at 4429.10 [BRIEFING.COM] The S&P 500 (+0.6%) and Nasdaq Composite (+0.8%) closed at record highs on Thursday, as encouraging economic data helped liven up risk sentiment after a tough session yesterday. The Dow Jones Industrial Average rose 0.8%, keeping pace with the Nasdaq, while the Russell 2000 leaped ahead with a 1.8% gain. Briefly, weekly initial jobless claims decreased by 14,000 to 385,000 (Briefing.com consensus 375,000), weekly continuing claims (2.930 mln) checked in below 3.0 mln for the first time since the start of the pandemic, and the June trade balance report saw imports outstrip exports as the U.S. tried to meet the pent-up demand in the economy. The breadth of the gains was decent: nine of the 11 S&P 500 sectors closed higher, advancing issues outpaced declining issues by roughly a 2:1 margin at the NYSE and Nasdaq, and growth stocks rose alongside value stocks. From a sector perspective, the energy (+1.3%), financials (+1.2%), and utilities (+1.1%) sectors led the advance with gains over 1.0%. Conversely, the health care (-0.4%) and materials (-0.1%) sectors were excluded from the advance. The health care sector saw pronounced weakness in Cigna ($CI 206.21, -25.27, -10.9%) and Cardinal Health ($CAH 50.57, -8.1, -14.3%) after the two companies provided disappointing earnings results and/or guidance. Uber ($UBER 43.07, +1.26, +3.0%) dovetailed with the recovery-minded action, overcoming an early 4.0% decline and closing higher by 3.0% following its earnings report. Stay-at-home names Roku ($ROKU 403.48, -16.84, -4.0%) and Etsy ($ETSY 482.41, -19.69, -9.7%) struggled following their reports. Separately, shares of Robinhood Markets ($HOOD 50.97, -19.42, -27.6%) dropped 28% after the company announced plans to sell up to 97.9 million Class A shares owned by shareholders. Entering the session, HOOD was up 85% from its IPO price last Thursday. In the Treasury market, the 10-yr yield increased three basis points to 1.22%, and the 2-yr yield increased three basis points to 0.20%. The U.S. Dollar Index was little changed at 92.27. WTI crude futures increased 1.4%, or $0.93, to $69.09/BBL. Reviewing Thursday's economic data: Initial jobless claims for the week ending July 31 decreased by 14,000 to 385,000 (Briefing.com consensus 375,000). Continuing claims for the week ending July 24 decreased by 366,000 to 2.930 million, which is the lowest level since March 14, 2020.The key takeaway from the report is the improvement in both initial claims and continuing claims from the prior week, as that fits with a recovery-minded labor market.The trade deficit widened to $75.7 billion in June (Briefing.com consensus -$72.2 billion) from an upwardly revised $71.0 billion (from -$71.2 billion) in May. Exports were $1.2 billion more than May exports while imports were $6.0 billion more than May imports.The key takeaway from the report is in the import number, which was led by imports of industrial supplies and materials and capital goods to meet the pent-up demand in the U.S. economy. Looking ahead, investors will receive the Employment Situation Report for July, Consumer Credit for June, and Wholesale Inventories for June on Friday. S&P 500 +17.9% YTDNasdaq Composite +15.6% YTDDow Jones Industrial Average +14.6% YTDRussell 2000 +13.2% YTDSource: (Briefing.com) Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page. .