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Julie Young
Julie Young
Articles (1139) 

US Market Indexes Close Higher Thursday After Retail Sales Report

S&P 500 has a gain of 15.9% for the year

The Dow Jones Industrial Average closed at 26,559.54 on Thursday with a gain of 110.00 points or 0.42%. The S&P 500 closed at 2,905.03 for a gain of 4.58 points or 0.16%. The Nasdaq Composite closed at 7,998.06 for a gain of 1.98 points or 0.02%. The VIX Volatility Index was lower at 12.13 for a loss of 0.47 points or -3.73%.

For the week, the Dow Jones gained 0.60%, the Nasdaq gained 0.09% and the S&P 500 gained 0.10%. For the year, the Nasdaq is up 20.5%, the S&P 500 is up 15.9% and the Dow Jones has a gain of 13.4%.

Thursday’s market movers

U.S. market indexes closed higher on the last day of the shortened holiday week. Political uncertainty was somewhat of a detractor for the day. North Korea was reportedly testing new tactical weapons. The Mueller report was released to Congress, providing details on an investigation involving President Trump’s dealings with Russia. The U.S. and China also reported another round of trade talks with a potential deal targeted for Memorial Day.

A positive retail sales report helped pull stocks ahead for the day. Retail sales increased 1.6% in March. An improving outlook on the first quarter's earnings also helped stocks to gain. Companies reporting earnings in the Dow Jones included Travelers (NYSE:TRV) and American Express (NYSE:AXP). Other notable earnings announcements included Alcoa (NYSE:AA), Blackstone (NYSE:BX), Union Pacific (NYSE:UNP), Honeywell (NYSE:HON) and Ally Financial (NYSE:ALLY).

Investors were also watching Pinterest (NYSE:PINS) and Zoom (NASDAQ:ZM) on Thursday as they began trading publicly. Pinterest gained 28.42% to $24.40. Zoom gained 72.22% to $62.

Economic reports affecting market trading included the following:

  • Jobless claims decreased to 192,000 from 197,000.
  • Retail sales increased 1.6% in March after falling 0.2% in February. Year over year retail sales increased 3.6%, up from the previous reading of 2.2%.
  • The Markit Manufacturing PMI was unchanged at 52.4 in April.
  • The Markit Services PMI decreased to 52.9 in April from 55.3.
  • The Treasury held an auction for four-week bills at a rate of 2.400% and five-year TIPS at a rate of 0.515%.
  • Business inventories increased 0.3% in February, following a 0.9% increase in January.
  • The Conference Board’s Leading Economic Indicators Index increased 0.4% in March, following an increase of 0.1% in February.
  • The Baker Hughes North American rig count decreased to 1,078 from 1,088.
  • Mortgage rates were higher according to Freddie Mac’s weekly mortgage market survey. The 30-year fixed-rate mortgage averaged 4.17%, increasing from 4.12%. The 15-year fixed-rate mortgage averaged 3.62%, increasing from 3.60%.

In the Dow Jones Industrial Average, the following stocks led gains:

Small-cap stocks

In small caps, the Russell 2000 closed at 1,564.94 for a loss of 2.66 points or -0.17%. The S&P 600 closed at 962.66 for a loss of 1.89 points or -0.20%. The Dow Jones Small-Cap Growth TSM Index closed at 9,942.09 for a loss of 2.80 points or -0.03%. The Dow Jones Small-Cap Value TSM Index closed at 9,714.12 for a loss of 25.03 points or -0.26%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,953.43 for a gain of 4.84 points or 0.25%; the S&P 100 at 1,287.40 for a gain of 1.27 points or 0.10%; the Russell 3000 at 1,710.97 for a gain of 2.25 points or 0.13%; the Russell 1000 at 1,608.93 for a gain of 2.41 points or 0.15%; the Wilshire 5000 at 29,981.13 for a gain of 37.49 points or 0.13%; and the Dow Jones U.S. Select Dividend Index at 717.10 for a loss of 0.99 points or -0.14%.

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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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