The Dow Jones Industrial Average closed at 24,216.05 on Thursday with a gain of 98.46 points or 0.41%. The S&P 500 closed at 2,716.31 for a gain of 16.68 points or 0.62%. The Nasdaq Composite closed at 7,503.68 for a gain of 58.60 points or 0.79%. The VIX Volatility Index was lower at 16.88 for a loss of -1.03 points or -5.75%.
Thursday’s market movers
U.S. market indexes gained with a positive gross domestic product report. The report showed a 2.0% seasonally adjusted annual growth rate for the first quarter, revised down from the previous report of 2.2%.
Sectors leading gains for the day included technology, real estate, consumer discretionary and financials. Nike (NKE, Financial) led gains for the day following its second-quarter earnings report.
Economic reports affecting market trading included the following:
- Gross domestic product was reported at a seasonally adjusted annual growth rate of 2.0% for the first quarter.
- Corporate profits reported a 2.7% year-over-year increase for the first quarter.
- Jobless claims increased by 9,000 to 227,000.
- The Fed balance sheet reported a decrease of -$9 trillion in assets for the week with total balance sheet assets of $4.316 trillion.
In the Dow Jones Industrial Average, the following stocks led gains:
- Nike (NKE, Financial) 5.10%
- Verizon (VZ, Financial) 3.14%
- IBM (IBM, Financial) 1.86%
- JPMorgan (JPM, Financial) 1.64%
Small-cap stocks
In small-caps, the Russell 2000 closed at 1,645.02 for a gain of 4.56 points or 0.28%. The S&P 600 closed at 1,020.22 for a gain of 2.86 points or 0.28%. The Dow Jones Small-Cap Growth TSM Index closed at 10,144.62 for a gain of 56.56 points or 0.56%. The Dow Jones Small-Cap Value TSM Index closed at 10,348.16 for a gain of 6.01 points or 0.06%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,950.37 for a gain of 7.56 points or 0.39%; the S&P 100 at 1,194.20 for a gain of 8.95 points or 0.76%; the Russell 3000 at 1,617.96 for a gain of 9.57 points or 0.60%; the Russell 1000 at 1,508.77 for a gain of 9.33 points or 0.62%; and the Dow Jones U.S. Select Dividend Index at 700.44 for a gain of 1.83 points or 0.26%.