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S&P 500, Nasdaq drift towards record highs as data fuels stimulus bets

Other payments companies PayPal Holdings Inc and Visa Inc gained 7% and 2%, respectively.

Wall Street
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A trader works on the floor of the New York Stock Exchange (NYSE) in New York City. Reuters

Reuters
The S&P 500 and the Nasdaq rose on Thursday, just shy of record highs with investors betting on more fiscal stimulus to ride out a coronavirus-driven recession as data showed a stalling recovery in the labor market.
 
Mastercard Inc rose about 3% after the credit-card giant said it was planning to offer support for some cryptocurrencies on its network this year, joining a string of big-ticket firms that have pledged similar support.
 
Other payments companies PayPal Holdings Inc and Visa Inc gained 7% and 2%, respectively.
 
Bank of New York Mellon rose about 2% after saying it had formed a