U.S. stocks slipped Thursday after data showed fewer Americans applied for jobless benefits, potentially signaling that the pace of recovery in the labor market is starting to pick up. The S&P 500 dropped 0.4%, still close to its first record since the coronavirus pandemic disrupted the economy. It has been only 123 trading days since the S&P 500 set its last closing record on Feb. 19. A new high would be the fastest recovery from a bear market on record. Moreover, in the 100 trading days since the March 23 lows, the index is up 51%.

Source: Wall Street Journal August 13, 2020 09:26 UTC