The Dow Jones Industrial Average closed at 24,553.24 on Thursday with a loss of 22.38 points or -0.09%. The S&P 500 closed at 2,642.33 for a gain of 3.63 points or 0.14%. The Nasdaq Composite closed at 7,073.46 for a gain of 47.69 points or 0.68%. The VIX Volatility Index was lower at 18.87 for a loss of -0.65 points or -3.33%.
Thursday’s market movers
U.S. market indexes reported a second day of closing gains led by technology. Semiconductor chip stocks were a primary contributor with strong fourth-quarter earnings reports from the category Wednesday and Thursday. The PHLX outperformed the S&P 500 and Nasdaq Thursday with a gain of 5.73% to 1,253.91.
Treasury yields and the U.S. dollar were affected by Europe. Treasury yields were lower Thursday following the trend in European government bonds. The 10-year U.S. Treasury yield was down 4.1 basis points to 2.714%. However, the dollar gained, strengthening 66 basis points against the euro and showing a 45 basis point increase in the U.S. Dollar Index. The European Central Bank left interest rates unchanged and reported a weaker growth outlook for the eurozone. The German government also downgraded its gross domestic product outlook.
Economic reports affecting market trading included the following:
- Jobless claims decreased to 199,000 from 212,000.
- The Markit Manufacturing PMI increased to 54.9 from 53.8.
- The Markit Services PMI decreased to 54.2 from 54.4.
- The Conference Board’s Leading Economic Indicators Index decreased 0.1%.
- The Treasury held an auction for four-week bills at a rate of 2.355%.
- Mortgage rates were unchanged for the week, according to Freddie Mac’s weekly mortgage market survey. The 30-year fixed rate mortgage remained at 4.45% and the 15-year fixed rate mortgage rate remained at 3.88%.
In the Dow Jones Industrial Average, the following stocks led gains:
Small-cap stocks
In small caps, the Russell 2000 closed at 1,464.41 for a gain of 10.15 points or 0.70%. The S&P 600 closed at 912.68 for a gain of 5.50 points or 0.61%. The Dow Jones Small-Cap Growth TSM Index closed at 9,178.45 for a gain of 79.59 points or 0.87%. The Dow Jones Small-Cap Value TSM Index closed at 9,302.72 for a gain of 31.95 points or 0.34%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,799.23 for a gain of 12.59 points or 0.70%; the S&P 100 at 1,167.43 for a loss of 0.38 points or -0.03%; the Russell 3000 at 1,558.70 for a gain of 3.60 points or 0.23%; the Russell 1000 at 1,462.80 for a gain of 2.85 points or 0.20%; the Wilshire 5000 at 27,321.82 for a gain of 64.87 points or 0.24%; and the Dow Jones U.S. Select Dividend Index at 667.32 for a gain of 0.03 points or 0.01%.
