U.S. market indexes were mostly higher on Thursday. For the day, the Dow Jones Industrial Average closed at 18352.05, for a loss of -2.95 points or -0.02%. The S&P 500 gained, closing at 2164.25, for a gain of 0.46 points or 0.02%. The Nasdaq Composite closed higher at 5166.25, for a gain of 6.51 points or 0.13%. The VIX Volatility Index was lower at -0.44 points or -3.42%.
In the S&P 500, technology reported the highest sector gain for the day. The following stocks led gains:
Tesla Motors (TSLA, Financial) 2.13%
PayPal (PYPL, Financial) 1.97%
Seagate Technology (STX, Financial) 1.72%
Facebook (FB, Financial) 1.51%
In the Dow Jones Industrial Average, the following stocks led losses:
Walt Disney (DIS, Financial) -0.97%
Home Depot (HD, Financial) -0.74%
Pfizer (PFE, Financial) -0.40%
Leading reports on the economic calendar for Thursday included jobless claims and factory orders. Jobless claims were up 3,000 to a total of 269,000. Factory orders were down 1.5%.
Also, a leading factor for the stock market on Thursday was the Bank of England’s decision to reduce rates. The Bank of England decreased its central bank rate to 0.25% from 0.50%. It also took other measures to help stimulate the economy and make credit access easier for borrowing. Stocks could benefit from the decreased rate as fixed income yields decrease globally and investors are likely to search for yield in equities.
In a CNBC report Thursday, market specialists discussed the actions of the Bank of England and how they might affect markets globally.
Disclosure: I do not directly own any stocks included in this article.
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