The Dow Jones Industrial Average closed at 28,390.18 on Thursday with a gain of 542.52 points or 1.95%. The S&P 500 closed at 3,510.45 for a gain of 67.01 points or 1.95%. The Nasdaq Composite closed at 11,890.93 for a gain of 300.15 points or 2.59%. The VIX Volatility Index was lower at 27.58 for a loss of 1.99 points or -6.73%
Thursday's Market Movers
U.S. indexes closed higher Thursday, adding to the strong start for November and the election week rally. The Fed kept interest rates at 0% to 0.25%. It also said it would continue to be proactive in using tools it has available.
On the earnings calendar:
- Roku (ROKU, Financial): Revenue of $451.7 million increased 73.1% year over year and beat estimates by $83.62 million. Q3 GAAP EPS of $0.09 beat estimates by $0.50.
- BigCommerce (BIGC, Financial) EPS beat estimates by $0.18.
- Peloton (PTON, Financial) EPS beat estimates by $0.09.
- Square (SQ, Financial) EPS beat estimates by $0.18.
- Uber (UBER, Financial) missed EPS estimates by $0.02.
- LendingTree (TREE, Financial) EPS missed estimates by $0.13.
Across the board, the following posted gains:
- Upwork (UPWK, Financial) 43.57%
- Altus Midstream (ALTM, Financial) 204.49%
- Tilray (TLRY, Financial) 30.33%
- Qualcomm (QCOM) 12.75%
- Aurora Cannabis (ACB) 41.53%
In other news:
- 751,000 Americans filed for jobless claims, down from 758,000. Continuing jobless claims decreased to 7.285 million from 7.823 million.
- Unit labor costs decreased -8.9% in the third quarter. Nonfarm productivity increased 4.9%.
- The Treasury held auctions for four-week bills at a rate of 0.080% 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 2.78%, down from 2.81%. The 15-year fixed-rate mortgage averaged 2.32%, unchanged from the previous week.
- Senate Majority Leader Mitch McConnell said he would try to make economic stimulus a priority for action this year.
- The Justice department has filed an antitrust lawsuit pertaining to Visa's (V) acquisition of Plaid.
Small-Cap Stocks
In small-caps, the Russell 2000 closed at 1,660.05 for a gain of 44.96 points or 2.78%. The S&P 600 closed at 934.94 for a gain of 25.40 points or 2.79%. The Dow Jones U.S. Small-Cap Growth Index closed at 11,754.12 for a gain of 290.71 points or 2.54%. The Dow Jones U.S. Small-Cap Value Index closed at 7,433.66 for a gain of 208.73 points or 2.89%.
Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,037.13 for a gain of 55.34 points or 2.79%; the S&P 100 at 1,621.23 for a gain of 31.11 points or 1.96%; the Nasdaq 100 at 12,078.07 for a gain of 301.05 points or 2.56%; the Russell 3000 at 2,068.46 for a gain of 41.91 points or 2.07%; the Russell 1000 at 1,962.62 for a gain of 38.93 points or 2.02%; the Wilshire 5000 at 36,122.54 for a gain of 713.05 points or 2.01%; and the Dow Jones US Select Dividend Index at 618.95 for a gain of 14.19 points or 2.35%.
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