S&P 500, Nasdaq scale new highs on stimulus progress, job market rebound

J&J files Covid-19 vaccine application with the FDA; Indexes up: Dow 0.48%, S&P 0.37%, Nasdaq 0.11%

The S&P 500 and the Nasdaq hit record highs on Friday on signs of progress towards more economic stimulus, while a closely watched jobs report confirmed the labor market was stabilising.

Still, US employment growth rebounded less than expected in January and job losses in December were deeper than initially thought, strengthening the argument for additional relief money to aid the recovery from the Covid-19 pandemic.
 

President Joe Biden's drive to enact a $1.9 trillion coronavirus aid bill gained momentum on Friday with the US House of Representatives set to vote on a budget plan that would allow the passage of