U.S. stocks end higher, Dow closes less than 2% from record

U.S. stocks closed higher Thursday ahead of Friday’s jobs report for November, with the equity rally lifting the Dow Jones to less than 2% from its last record finish. The Dow Jones Industrial Average
DJIA,
+0.17%
gained about 63 points, or 0.2%, closing near 36,117, according to preliminary FactSet data. That put the equity benchmark on the doorstep of its Jan. 4, 2022 closing record of 36,799.65, according to Dow Jones Market Data. The S&P 500 index
SPX,
+0.80%
ended 0.8% higher, while the outperformer was the Nasdaq Composite Index’s
COMP,
+1.37%
1.4% gain. Stocks were extending a sharp rally from last month that was fueled by a sharp drop in rates used to finance the economy. The 10-year Treasury yields
TMUBMUSD10Y,
4.156%
edged up to 4.129% on Thursday, but was well below its 5% peak in October. November’s jobs report will be watched for signs that the labor market continues to ease, helping the Federal Reserve in its fight to keep inflation receding toward its 2% yearly target.