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Nasdaq Composite Index Rallies to Record on Jobs Data, Earnings

  • Tech-heavy gauge joins S&P 500 at fresh all-time high
  • Two-month surge in hiring bolsters optimism on U.S. growth
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U.S. Adds 255,000 Jobs in July, Jobless Rate at 4.9%

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Signs U.S. hiring remains robust and one of the best earnings seasons for technology stocks since 2008 pushed the Nasdaq Composite Index to a record close for the first time in a year, joining the S&P 500 Index at an all-time high.

The gauge rallied for the eighth time in nine days and capped a sixth straight weekly advance, the longest since November. Since firms started reporting earnings a month ago, companies from EBay Inc. to Seagate Technology Plc and Biogen Inc. have jumped more than 20 percent.