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JulieYoung789
Julie Young
Articles (1526) 

US Indexes Close Higher Thursday

S&P 500 up 1.19%

The Dow Jones Industrial Average closed at 26,659.11 on Thursday with a gain of 139.16 points or 0.52%. The S&P 500 closed at 3,310.11 for a gain of 39.08 points or 1.19%. The Nasdaq Composite closed at 11,185.59 for a gain of 180.72 points or 1.64%. The VIX Volatility Index was lower at 37.59 for a loss of 2.69 points or -6.68%.

Thursday's market movers

U.S. indexes closed higher Thursday, but are on track for weekly losses after two dramatic selloffs this week. Gross domestic product was the day's top headline along with many earnings reports. GDP increased 33.1% on an annualized basis for the third quarter. The results followed a decrease of 31.4% in the second quarter.

Jobless claims were lower for the week. However, 79,000 new U.S. coronavirus cases were reported Wednesday, as daily cases hover around record levels.

On the earnings calendar:

  • Twitter (NYSE:TWTR): Revenue of $936 million increased 13.6% year over year and beat estimates by $159.96 million. Third-quarter GAAP earnings of 4 cents per share beat estimates by 13 cents and non-GAAP earnings of 19 cents beat estimates by 14 cents.
  • Apple (AAPL): Revenue of $64.69 billion increased 1.0% year over year and beat estimates by $1.36 billion. Fourth-quarter GAAP earnings of 73 cents per share beat estimates by 3 cents.
  • Facebook (FB): Revenue of $21.47 billion increased 21.6% year over year and beat estimates by $1.67 billion. Third-quarter GAAP earnings of $2.71 per share beat estimates by 80 cents.
  • Amazon (NASDAQ:AMZN): Revenue of $96.1 billion increased 37.3% year over year and beat estimates by $3.54 billion. Third-quarter GAAP earnings of $12.37 per share beat estimates by $4.98.
  • Alphabet (NASDAQ:GOOG)(NASDAQ:GOOGL): Revenue of $46.17 billion increased 14.0% year over year and beat estimates by $3.33 billion. Third-quarter GAAP earnings of $16.40 beat estimates by $5.19.
  • Comcast (NASDAQ:CMCSA): Revenue of $25.53 billion decreased 4.8% year over year and beat estimates by $800 million. Third-quarter GAAP earnings of 44 cents per share beat estimates by 2 cents and non-GAAP earnings of 65 cents beat estimates by 14 cents.
  • Overstock (NASDAQ:OSTK): Revenue of $731.65 million increased 110.8% year over year and beat estimates by $146.07 million. Third-quarter GAAP earnings of 50 cents beat estimates by 56 cents.

Economic reports affecting market trading included the following:

  • Freddie Mac released its weekly mortgage market survey. The 30-year fixed-rate mortgage averaged 2.81%, up from 2.80%. The 15-year fixed-rate mortgage averaged 2.32%, down from 2.33%.
  • Gross domestic product increased 33.1% on an annualized basis in the third quarter, following a decrease of 31.4%.
  • 751,000 Americans filed for jobless claims, down from 791,000. Continuing jobless claims were 7.756 million, down from 8.465 million.
  • Pending home sales decreased 2.2% in September following an increase of 8.8%. Year over year, pending homes sales increased 20.5%.
  • The Treasury held auctions for four-week bills at a rate of 0.080%, eight-week bills at a rate of 0.085% and seven-year notes at a rate of 0.600%.

Across the board:

  • Energy and semiconductors led gains.
  • Health care and consumer staples were lower.
  • Pinterest (PINS) +28.20%
  • Twitter (NYSE:TWTR) +8.08%

Small-cap stocks

In small caps, the Russell 2000 closed at 1,561.58 for a gain of 18.30 points or 1.19%. The S&P 600 closed at 888.66 for a gain of 13.82 points or 1.58%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,999.81 for a gain of 99.64 points or 0.91%. The Dow Jones U.S. Small-Cap Value Index closed at 7,079.73 for a gain of 114.53 points or 1.64%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,915.44 for a gain of 19.87 points or 1.05%; the S&P 100 at 1,530.28 for a gain of 20.64 points or 1.37%; the Nasdaq 100 at 11,350.74 for a gain of 207.99 points or 1.87%; the Russell 3000 at 1,950.13 for a gain of 22.12 points or 1.15%; the Russell 1000 at 1,850.61 for a gain of 20.95 points or 1.14%; the Wilshire 5000 at 34,039.01 for a gain of 397.50 points or 1.18%; and the Dow Jones U.S. Select Dividend Index at 593.34 for a gain of 8.29 points or 1.42%.

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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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