S&P, Nasdaq hit record highs as stimulus hopes outweigh dire jobs report

Topics S&P | Nasdaq | Stimulus package

The S&P 500 and the Nasdaq scaled new highs on Friday, as hopes of more economic stimulus to ride out a pandemic-led downturn eclipsed concerns over a significant loss of pace in a labor market recovery. The U.

S. government's employment report showed the economy shed jobs for the first time in eight months in December as the country buckled under an onslaught of COVID-19 infections. However, with a backstop of nearly $900 billion in stimulus approved by the government last week and expectations of a bigger fiscal package and infrastructure.....

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