Stocks achieved slight gains amid muted action ahead of Friday's jobs report.
The Nasdaq rose 0.3%, while the S&P 500 and Dow Jones industrial average both added 0.2%. Each index finished near its session peak and touched a fresh multiyear high. Volume in the stock market today came in mixed, according to early data, with the Nasdaq showing a small decline from Thursday's level and the NYSE, a small increase.
After the market's close, Workday (WDAY) tumbled in extended trading, even as the provider of on-demand HR software posted a smaller-than-expected fourth-quarter loss. The October IPO also reported fourth-quarter revenue that grew 89%, beating forecasts.
During the regular session, Workday fell nearly 5% in strong volume, reducing its gain for the week to 7%. The company has been posting quarterly losses for years, helping to give it an IBD EPS Rating of 4, near the worst-possible grade of 1.
Also after hours, the Federal Reserve released results of bank stress tests. All 18 banks tested passed, except for Ally, formerly known as GMAC.
In economic news Thursday, the latest initial weekly jobless claims figure came in better than expected, with 340,000 claims, down from 355,000 in the prior week. Wednesday's ADP jobs report also topped forecasts, so hopes have been raised for Friday's jobs report.
The government's monthly jobs report is due out at 8:30 a.m. ET Friday. Expectations are that employers added a net 171,000 workers in February, according to Econoday. The unemployment rate is expected to dip to 7.8%.
Retailers Ann (ANN) and Foot Locker (FL) are among the companies expected to report earnings Friday.
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