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Here’s what happened to the stock market on Thursday

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The New York Stock Exchange is pictured on May 26, 2020 at Wall Street in New York City.

Johannes Eisele | AFP | Getty Images

Dow Jones Industrial Average rises 185 points

Big Tech pushes Nasdaq above 11,000 for the first time

Shares of Facebook ended the day up 6.5%. Apple shares rose 3.5% while Netflix and Google-parent Alphabet both closed more than 1% higher. Microsoft, meanwhile, climbed 1.6%. Those gains propelled the Nasdaq to its seventh straight positive session and to another all-time high above 11,000. The Dow and S&P 500 posted five-day winning streaks of their own. 

Stimulus in focus

The major averages oscillated around the flatline for most of the session as they sought clarity on the ongoing coronavirus relief stimulus negotiations. Senate Majority Leader Mitch McConnell told CNBC’s “Squawk on the Street” that lawmakers were still at odds over how much stimulus is appropriate. In another interview with CNBC’s “Squawk on the Street,” however, House Speaker Nancy Pelosi took a shot at Republicans and their priorities. She stated: “Perhaps you mistook [Republicans] for somebody who gives a damn.”

What happens next?

The July U.S. jobs report is set for release Friday morning.

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