critical employment data.

PFE) coronavirus vaccine candidate showing progress in a trial phase — and the Federal Reserve’s pledge to keep the monetary spigots open “for years” — sent the Nasdaq Composite to a record close.

AMZN), Netflix (NFLX) Tesla (TSLA) and Microsoft (MSFT) to new record highs, with those companies riding the momentum of business models that are mostly perceived as coronavirus-proof. With the exception of Tesla, the high-flying tech shares are thriving from large numbers of consumers still working remotely.

Record-breaking surges in coronavirus infections are overshadowing market psychology, and setting the tone for the start of the second half of a turbulent year.

postponing plans to reopen indoor dining, with cases outside the Tri-state area skyrocketing. Meanwhile, a spike in California’s infections reportedly prompted the state to shutter indoor activities, including dining, to mitigate the spread.

Nevertheless, stocks closed out a breathtaking second-quarter rally that took them to their best overall quarter since 1998, and best second quarter on record. During that time frame, the S&P 500 saw a near-20% run-up during the April through June period, while the Dow and Nasdaq rose about 17.5% and 30%, respectively.

easing pedal for “years” as the recovery takes shape.

logged a gain of over 2.3 million jobs. Those figures came ahead of the June nonfarm payrolls report, which is forecast to show the battered U.S. economy created 3 million jobs last month — up from 2.5 million in May.” data-reactid=”23″>On Wednesday, ADP private payrolls data logged a gain of over 2.3 million jobs. Those figures came ahead of the June nonfarm payrolls report, which is forecast to show the battered U.S. economy created 3 million jobs last month — up from 2.5 million in May.

“We expect June nonfarm payrolls to rise by 2 million,” economists at Barclays said in a research note. They said the unexpected jump in May’s report could signal “a persistent improvement in the hiring rate” — but there was also the possibility that it was temporary.

“If so, this would suggest that the surge in May hiring was more of a one-off event and we could see some give-back in June employment,” the bank added.

However, investor expectations are more tied to new surges in COVID-19 infections, which are walloping the Sun Belt states and prompting more regions to rethink reopening plans. That may put a definitive cap on a market that’s skyrocketed since plunging to multi-year lows in when lockdowns first began in March.

—

6:15 p.m. ET: Stock futures open slightly lower

Here were the main moves at the start of the overnight session for U.S. equity futures, as of 6:15 p.m. ET:

• S&P 500 futures (ES=F): 3,101.75, off -1.25 (-0.04%)

• Dow futures (YM=F): 25,557.00, down -18.00 (-0.07%)

• Nasdaq futures (NQ=F): 10,257.25, down -11.50 (-0.11%)

—

Twitter, Facebook, Instagram, Flipboard, LinkedIn, and reddit.” data-reactid=”38″>Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and reddit.

Find live stock market quotes and the latest business and finance news

For tutorials and information on investing and trading stocks, check out Cashay