The Dow Jones Industrial Average closed at 26,753.17 on Thursday with a gain of 249.17 points or 0.94%. The S&P 500 closed at 2,954.18 for a gain of 27.72 points or 0.95%. The Nasdaq Composite closed at 8,051.34 for a gain of 64.02 points or 0.80%. The VIX Volatility Index was slightly higher at 14.75 for a gain of 0.42 points or 2.93%.
Thursday’s market movers
U.S. stocks continued their gains Thursday with the S&P 500 reporting a new closing record high. Expectations for a rate decrease continued to be a leading catalyst along with investor optimism about the scheduled meeting between Trump and Xi. A strong initial public offering from Slack (WORK, Financial) was also among the day’s top headlines. The tech company gained 48.54% to close at $38.62.
Economic reports affecting market trading for the day included the following:
- Jobless claims decreased to 216,000 from 222,000.
- The Conference Board’s Leading Economic Indicators Index was unchanged in May following a 0.1% increase.
- The Treasury held auctions for four-week bills at a rate of 2.14%, eight-week bills at a rate of 2.105% and five-year TIPS at a rate of 0.152%.
- Freddie Mac’s 30-year fixed-rate mortgage average was 3.84%, increasing from 3.82%. The 15-year fixed-rate mortgage average decreased to 3.25% from 3.26%.
In the Dow Jones Industrial Average, the following stocks led gains:
- United Technologies (UTX, Financial) 2.59%
- Caterpillar (CAT, Financial) 2.40%
- Cisco (CSCO, Financial) 2.40%
- Nike (NKE, Financial) 2.23
- 3M (MMM, Financial) 2.02%
- Boeing (BA, Financial) 1.93%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,563.49 for a gain of 7.92 points or 0.51%. The S&P 600 closed at 945.14 for a gain of 6.98 points or 0.74%. The Dow Jones Small-Cap Growth Total Stock Market Index closed at 10,020.05 for a gain of 65.77 points or 0.66%. The Dow Jones Small-Cap Value Total Stock Market Index closed at 9,532.39 for a gain of 50.04 points or 0.53%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,939.94 for a gain of 12.99 points or 0.67%; the S&P 100 at 1,305.05 for a gain of 12.73 points or 0.99%; the Russell 3000 at 1,737.39 for a gain of 15.32 points or 0.89%; the Russell 1000 at 1,635.81 for a gain of 14.88 points or 0.92%; the Wilshire 5000 at 30,296.85 for a gain of 266.03 points or 0.89%; and the Dow Jones U.S. Select Dividend Index at 708.82 for a gain of 5.88 points or 0.84%.
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