Closing Bell: AbbVie Sues Amgen; S&P 500, Nasdaq at New Records

Stocks secure robust gains after the latest labor market snapshot breezes past expectations.
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Stocks secured robust gains after the latest labor market snapshot breezed past expectations. The S&P500 scored a new record high, while the Nasdaq hit an all-time close for the first time since July last year. Crude oil was slightly lower after a weekly read on domestic drilling activity showed another increase in the number of active oil rigs. Activity has risen for six weeks in a row.  Lions Gate (LGF) climbed after posting a better-than-expected quarter. The box-office success of Now You See Me 2 helped to drive international motion picture revenue up 34%. Overall revenue was also up by double-digits.  AbbVie (ABBV) - Get Report is suing biopharma rival Amgen (AMGN) - Get Report in an effort to block the sale of a copy of its arthritis medicine. AbbVie argues Amgen's copy infringes upon at least 10 of its patents.