US Market Indexes Close Higher on Thursday

S&P 500 closes at 2,716.31 with a gain of 0.62%

Author's Avatar
Jun 29, 2018
Article's Main Image

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:

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%.