US STOCKS-Wall Street set to edge up as weekly jobless claims drop

Wall Street was set to open a touch higher on Thursday, with the S&P 500 within striking distance of a record high, after data showed weekly jobless claims fell below 1 million for the first time since March. The S&P 500 ended Wednesday about 0.4% below its intraday record high hit on Feb. 19, having recovered virtually all of its losses due to the pandemic, thanks to unprecedented stimulus and a better-than-feared earnings season. “We’ve had a really strong run over the last couple of weeks, so I think it will be very healthy to see a pause, some consolidation here,” said Dan Eye, head of asset allocation and equity at Fort Pitt Capital Group in Harrisburg, Pennsylvania.

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