Equities moved higher on Thursday as the June jobs report surpassed predictions; investors put record new U.S. case levels to the side, focusing instead on last month's better-than-expected employment report.

The U.S. jobs report for June showed employment rising by 4.8 million and the unemployment rate dropping to 11.1%, according to the U.S. Bureau of Labor Statistics.

The three major U.S. indexes closed higher on the day and for the shortened trading week. The Dow Jones Industrial Average added 92 points, or 0.4%, to finish at 25,827.

Lemonade, anyone? The digital insurance company Lemonade, Inc. (ticker: LMND) priced the initial public offering of 11 million shares late Wednesday at $29 a pop.

Making its stock market debut on Thursday, the stock price surged nearly 140% by the end of the day on heavy volume, closing at $69.41.

Tesla can't stop, won't stop. Tesla Inc. ( TSLA ) shares soared on Thursday, adding just under 8% after the company announced vehicle output numbers that far exceeded expectations. In the second quarter, the company delivered over 90,000 cars, passing analyst estimates of 72,000. Tesla’s stock price surged past the $1,200 level on Thursday, setting a new closing record.

Analysts say this level of demand during a recession is unprecedented. Much of the demand in the second quarter came from China for Tesla’s Model 3. Due to continuing strong demand for Tesla's electric vehicles, some analyst price targets now range between $1,250 to $2,000 per share.

Moderna slumps. Moderna ( MRNA ) stock lost nearly 5% on Thursday following an announcement that the American biotech company may experience delays in late-stage trials for its highly anticipated vaccine candidate. Moderna's candidate had been one of the most closely watched by Wall Street, so any delay in its progress is bad news for shareholders.

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