The Dow Jones Industrial Average closed at 20,087.19 on Thursday with a gain of 188.27 points or 0.95%. The S&P 500 closed at 2,409.39 for a gain of 11.29 points or 0.47%. The Nasdaq Composite closed at 7,150.58 for a gain of 160.73 points or 2.30%. The VIX Volatility Index was lower at 72.00 for a loss of 4.45 points or -5.82%.
Thursday’s market movers
U.S. indexes ended slightly higher Thursday, led by a 2.30% gain from the Nasdaq. China reported no new Coronavirus infections. President Trump discussed Chloroquine as a possible treatment for the virus. Bayer also says it is donating three million tablets of the drug in generic form to the U.S.
In the U.S., the infection count continued to climb, increasing above 10,000. Deaths in Europe surpassed China. Automakers announced plant shutdowns. The Federal Reserve said it will provide support for money market funds through a new loan program. The European Central Bank announced a new bond buying program to help market stability.
Oil prices posted a record gain Thursday. The U.S. announced discussions to take action against the Saudi-Russia standoff which is keeping oil supply higher. The state of Texas said it is considering a suspension of oil production to help improve the oil market environment.
Economic reports affecting market trading included the following:
- The Current Account report for the fourth quarter showed a deficit of -$109.8 billion.
- Jobless claims increased to 281,000, from 211,000 in the previous week. Continuing jobless claims increased to 1,701,000 from 1,699,000.
- The Conference Board’s Leading Economic Indicators Index increased 0.1% in February.
- The Treasury held auctions for 4-week bills at a rate of 0.03%, 8-week bills at a rate of 0.03% and 10-Year TIPS at a rate of 0.68%.
In the S&P 500, energy and consumer discretionary led gains. In the Dow Jones Industrial Average, the following stocks led gains:
Small-cap stocks
In small caps, the Russell 2000 closed at 1,058.75 for a gain of 67.58 points or 6.82 %. The S&P 600 closed at 635.19 for a gain of 34.37 points or 5.72%. The Dow Jones U.S. Small-Cap Growth Index closed at 6,959.23 for a gain of 398.35 points or 6.07%. The Dow Jones U.S. Small-Cap Value Index closed at 5,541.78 for a gain of 322.49 points or 6.18%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,317.54 for a gain of 59.30 points or 4.71%; the S&P 100 at 1,114.60 for a gain of 4.01 points or 0.36%; the Nasdaq 100 at 7,288.52 for a gain of 113.35 points or 1.58%; the Russell 3000 at 1,382.84 for a gain of 16.22 points or 1.19%; the Russell 1000 at 1,315.89 for a gain of 11.33 points or 0.87%; the Wilshire 5000 at 24,200.50 for a gain of 264.13 points or 1.10%; and the Dow Jones U.S. Select Dividend Index at 499.58 for a loss of 4.01 points or -0.80%.
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