S&P 500 moves closer to its record high on improving labor market

Source: Dukascopy Bank SA
U.S. shares rose on Friday as jobless-benefit claims dropped to a six-week low and investors look forward to further stimulus measures. The S&P 500 Index advanced 0.45% to 1,551.18, less than 1% below its highest value of 1,565.15 in October 2007. All the sectors included in the gauge rallied on Friday. The best performing sectors were consumer services and basic materials. H&R Block Inc., U.S. tax preparation company, surged 9.2% to $27.28, despite bigger than forecast losses posted in its earnings release. However, the company's CEO estimates the market share to go up. Metlife Inc. and Best But Co Inc. followed with added 4.9% and 4.7%, respectively. Aflac Inc. slumped more than other blue chip companies on with a 2.8% decrease to close at $50.14 after seven consecutive trading days of rising. On the downside, Goldman Sachs Group Inc. with a 2.3% drop on speculation it is going to name managing directors every two years instead of doing it on a yearly basis. Bank of America Corp lost 1.6% and reached $12.07, capping further gains in financial group.
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