US stocks inched higher on Thursday and the S&P reached a record high, lifted by daya pointing to steady improvement in the economy, as investors awaited the start of a meeting of top central bankers and economists in Jackson Hole, Wyoming
Policymakers are due to discuss the labour market of major economies at the August 21-23 meeting, with US Federal Reserve Chair Janet Yellen scheduled to speak Friday. Investors will peruse official's remarks for clues on the timing of an interest rate hike.
A flurry of US economic data, including a rise in home re-sales to a 10-month high and a decline in initial jobless claims, pointed to an economy that continues to slowly gain strength.
Ebay shares jumped 4.7 per cent to $55.91 on a report the company was mulling spinning off its PayPal unit as soon as next year.
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