Stocks rise for a fifth straight day led by tech

(CNBC) – Stocks rose on Thursday, led by tech shares, as traders kept an eye on Washington for clues on a new coronavirus stimulus package and pored over better-than-expected unemployment data.

The Dow Jones Industrial Average closed 185.46 points higher, or 0.7%, at 27,386.98. The S&P 500 climbed 0.6% to 3,349.16 and the Nasdaq Composite advanced 1% to 11,108.07. Thursday marked the Nasdaq’s first close above 11,000 and the average’s seventh straight gain. Both the Dow and S&P 500 posted five-day winning streaks. The S&P 500 also closed just 1.3% below its Feb. 19 record.

Facebook jumped more than 6% and Apple shares climbed 3.5%. Netflix advanced 1.4%. Amazon and Microsoft rose 0.6% and 1.6%, respectively. These stocks have contributed a massive share of the broader market’s gains off the March 23 low and are all handily outperforming the S&P 500.

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