S&P 500 crosses 4,000 for the first time ever

The S&P 500 breached the 4,000 mark for the first time Thursday, powered by gains in technology shares and optimism about a pickup in global economic activity.

A mammoth vaccination drive and a massive fiscal stimulus are expected to drive a recovery in the labor market, prompting investors to look past latest data that showed a rise in the number of Americans filing new claims for jobless benefits last week. The closely watched monthly jobs report on Friday could show the US economy added 647,000 jobs in March, on top of a 379,000 increase in February.