The Dow Jones Industrial Average closed at 26,496.67 on Thursday with a gain of 150.66 points or 0.57%. The S&P 500 closed at 2,938.13 for a gain of 18.73 points or 0.64%. The Nasdaq Composite closed at 7,950.78 for a gain of 47.04 points or 0.60%. The VIX Volatility Index was lower at 17.62 for a loss of 1.02 points or -5.47%.
Thursday's market movers
Positive developments in U.S.-China trade negotiations helped stocks to gain for a second day on Thursday. President Trump confirmed plans to meet with Vice Premier Liu He on Friday, disparaging rumors that trade talks would be cut short this week. Currently on tap for discussion are the Oct. 15 tariff increases, a currency agreement, Huawei and more Chinese agricultural purchases.
Meanwhile, investors continue to watch impeachment investigations and the Federal Reserve's sentiment. The Fed's September minutes revealed worries from officials over economic signals. However, the Fed's Kashkari said Thursday he does not expect a recession.
Economic reports affecting market trading included the following:
- The Consumer Price Index was unchanged in September following an increase of 0.1%. Year over year, the Consumer Price Index's increase remained at 1.7%.
- The Core Consumer Price Index excluding food and energy increased 0.1% in September following an increase of 0.3%. Year over year, the Core Consumer Price Index's increase remained at 2.4%.
- Jobless claims decreased to 210,000 from 220,000.
- The Treasury held auctions for four-week bills at a rate of 1.720%, eight-week bills at a rate of 1.685% and 30-year bonds at a rate of 2.17%.
- Freddie Mac's weekly mortgage market survey showed mortgage rates falling. The 30-year fixed-rate mortgage averaged 3.57%, down from 3.65%. The 15-year fixed-rate mortgage averaged 3.05%, down from 3.14%.
In the S&P 500, the energy, financial and industrial sectors led gains. In the Dow Jones Industrial Average, the following stocks led gains:
- Caterpillar (NYSE:CAT) 2.72%
- Dow Inc. (NYSE:DOW) 2.07%
- Walgreens Boots Alliance (NASDAQ:WBA) 1.64%
In small caps, the Russell 2000 closed at 1,485.36 for a gain of 5.90 points or 0.40%. The S&P 600 closed at 918.36 for a gain of 2.19 points or 0.24%. The Dow Jones U.S. Small-Cap Growth Index closed at 9,468.31 for a gain of 37.62 points or 0.40%. The Dow Jones U.S. Small-Cap Value Index closed at 9,125.44 for a gain of 51.55 points or 0.57%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,884.17 for a gain of 10.38 points or 0.55%; the S&P 100 at 1,302.41 for a gain of 8.29 points or 0.64%; the Nasdaq 100 at 7,740.36 for a gain of 49.83 points or 0.65%; the Russell 3000 at 1,718.37 for a gain of 10.15 points or 0.59%; the Russell 1000 at 1,622.49 for a gain of 9.80 points or 0.61%; the Wilshire 5000 at 29,987.56 for a gain of 177.63 points or 0.60%; and the Dow Jones U.S. Select Dividend Index at 713.14 for a gain of 5.59 points or 0.79%.
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This article first appeared on GuruFocus.