Stocks Drift Higher as Investors Weigh Jobs Data

Figures show that weekly first-time applications for unemployment benefits, a proxy for layoffs, stayed near decade lows

U.S. stocks edged higher Thursday after fresh economic data indicated that a recent uptick in Covid-19 infections related to the Omicron variant hasn’t led to a surge in layoffs, a positive sign for the economy.

The S&P 500 ticked up 0.1% after the broad-market index climbed to a record a day earlier. The Nasdaq Composite rose 0.6%, and the Dow Jones Industrial Average gained less than 0.1%.