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Julie Young
Julie Young
Articles (1527) 

US Indexes Close Higher Thursday

Nasdaq gains 1.42%

The Dow Jones Industrial Average closed at 27,816.90 on Thursday with a gain of 35.20 points or 0.13%. The S&P 500 closed at 3,380.80 for a gain of 17.80 points or 0.53%. The Nasdaq Composite closed at 11,326.51 for a gain of 159.00 points or 1.42%. The VIX Volatility Index was higher at 26.70 for a gain of 0.33 points or 1.25%.

Thursday's Market Movers

U.S. indexes closed higher for a second day and reported a positive start to October. Personal income was down -2.7% in August, causing some economic alarm. Earlier in the week, ADP's private payrolls report beat economists' expectations.

Across sectors, semiconductors and real estate led gains for the day. In the S&P 500, the following stocks led gains:

Other stock highlights for the day included the following:

  • Google (NASDAQ:GOOG) (NASDAQ:GOOGL) held a hardware event featuring the Pixel 5 and Pixel 4a.
  • The Senate will require the CEOs of Facebook (NASDAQ:FB), Google and Twitter (NYSE:TWTR) to speak before Congress about third-party content.
  • Across the board, AMAG Pharmaceuticals (NASDAQ:AMAG) led gains with a return of 45.21% and Bed Bath and Beyond (NASDAQ:BBBY) gained 25.13%.

Economic reports affecting market trading included the following:

  • Personal income decreased -2.7% in August, following an increase of 0.5%. Personal spending increased 1% following an increase of 1.5%.
  • The PCE Price Index increased 0.3% in August and 1.4% year over year. The Core PCE Price Index excluding food and energy increased 0.3% in August and 1.6% year over year.
  • 837,000 Americans filed for jobless claims, down from 873,000 in the previous week. Continuing jobless claims were 11.767 million, down from 12.747 million.
  • The Markit Manufacturing PMI increased to 53.2 in September from 53.1.
  • The ISM Manufacturing PMI decreased to 55.4 in September from 56.
  • Construction spending increased 1.4% in August, following an increase of 0.7%.
  • The Treasury held auctions for four-week bills at a rate of 0.085% and eight-week bills at a rate of 0.085%.
  • Freddie Mac released its weekly mortgage market survey. The 30-year fixed-rate mortgage averaged 2.88%, down from 2.90%. The 15-year fixed-rate mortgage averaged 2.36%, down from 2.40%.

Small-Cap Stocks

In small-caps, the Russell 2000 closed at 1,531.20 for a gain of 23.51 points or 1.56%. The S&P 600 closed at 867.47 for a gain of 12.20 points or 1.43%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,861.17 for a gain of 181.10 points or 1.70%. The Dow Jones U.S. Small-Cap Value Index closed at 6,875.03 for a gain of 82.02 points or 1.21%.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,884.94 for a gain of 23.65 points or 1.27%; the S&P 100 at 1,569.88 for a gain of 9.30 points or 0.60%; the Nasdaq 100 at 11,583.20 for a gain of 165.14 points or 1.45%; the Russell 3000 at 1,982.84 for a gain of 14.75 points or 0.75%; the Russell 1000 at 1,885.82 for a gain of 13.13 points or 0.70%; the Wilshire 5000 at 34,627.63 for a gain of 257.38 points or 0.75%; and the Dow Jones US Select Dividend Index at 582.45 for a loss of 2.21 points or -0.38%.

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About the author:

Julie Young
Julie Young is a financial writer with comprehensive experience in the financial services industry. She writes about investments, investment products, financial market news and economic trends. Julie has a Master of Science in finance from Boston College and a Bachelor of Science in finance from the University of Arkansas.

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