The Dow Jones Industrial Average closed at 27,674.80 on Thursday with a gain of 182.24 points or 0.66%. The S&P 500 closed at 3,085.18 for a gain of 8.40 points or 0.27%. The Nasdaq Composite closed at 8,434.52 for a gain of 23.89 points or 0.28%. The VIX Volatility Index was higher at 12.73 for a gain of 0.11 points or 0.87%.
Thursday's market movers
U.S. indexes were higher Thursday on news that the U.S. and China were nearing an agreement. News reports said that the two countries would remove some of the tariffs in equal amounts simultaneously when the new agreement is signed. The positive outlook added to other signals, including positive earnings results and a positive jobs report that have also been helping equity gains.
On the earnings calendar Thursday, the following companies topped headlines:
Activision Blizzard (ATVI), Booking Holdings (BKNG), Clovis (CLVS), Discovery (DISCA), Dish Network (DISH), Disney (DIS), Dropbox (DBX), GoPro (GPRO), PG&E (PCG), Ralph Lauren (RL), Teva Pharmaceutical (TEVA), Vista Outdoor (VSTO) and Yelp (YELP)
Economic reports affecting market trading included the following:
Jobless claims decreased to 211,000 from 219,000.
The Treasury held auctions for four-week bills at a rate of 1.535%, eight-week bills at a rate of 1.53% and 30-year bonds at a rate of 2.43%.
Freddie Mac's weekly mortgage market survey showed mortgage rates falling. The 30-year fixed-rate mortgage averaged 3.69%, decreasing from last week's average of 3.78%. The 15-year fixed-rate mortgage averaged 3.13%, decreasing from last week's average of 3.19%.
Consumer credit increased $9.51 billion in September following an increase of $17.84 billion.
In the S&P 500, the energy and technology sectors led gains. In the S&P 100, the following stocks led gains:
Qualcomm (NASDAQ:QCOM) 6.22%
ConocoPhillips (NYSE:COP) 3.33%
General Electric (NYSE:GE) 2.36%
Goldman Sachs (NYSE:GS) 2.32%
UnitedHealth (NYSE:UNH) 2.22%
Exxon (NYSE:XOM) 1.99%
In small caps, the Russell 2000 closed at 1,593.99 for a gain of 4.45 points or 0.28%. The S&P 600 closed at 987.52 for a gain of 2.98 points or 0.30%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,109.31 for a gain of 35.20 points or 0.35%. The Dow Jones U.S. Small-Cap Value Index closed at 9,843.34 for a gain of 21.12 points or 0.22%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,992.64 for a gain of 2.29 points or 0.12%; the S&P 100 at 1,374.80 for a gain of 5.01 points or 0.37%; the Nasdaq 100 at 8,219.65 for a gain of 23.62 points or 0.29%; the Russell 3000 at 1,806.32 for a gain of 4.97 points or 0.28%; the Russell 1000 at 1,703.09 for a gain of 4.68 points or 0.28%; the Wilshire 5000 at 31,526.80 for a gain of 86.25 points or 0.27%; and the Dow Jones U.S. Select Dividend Index at 741.17 for a gain of 1.16 points or 0.16%.
Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here.