US stocks rise to records on more proof of economic recovery

NEW YORK (AP) — U.S. stocks are rallying toward records after a suite of stellar data suggested the recovery for the economy and corporate profits is accelerating. The S&P 500 was 0.9% higher in Thursday morning trading and on track to surpass its all-time high set on Tuesday. Expectations are very high on Wall Street that the economy is in the midst of exploding out of the cavern created by the pandemic. Reports on Thursday only bolstered those expectations, including ones showing how hungry Americans are to spend again, how fewer workers are losing their jobs and how much fatter corporate profits are getting.