U.S. Markets closed

US Indexes Resume Rally, Closing Higher Thursday

The Dow Jones Industrial Average closed at 28,376.96 on Thursday with a gain of 137.68 points or 0.49%. The S&P 500 closed at 3205.37 for a gain of 14.23 points or 0.45%. The Nasdaq Composite closed at 8,887.22 for a gain of 59.48 points or 0.67%. The VIX Volatility Index was lower at 12.50 for a loss of 0.080 points or -0.64%.

Thursday's market movers

U.S. indexes overlooked impeachment worries Thursday, resuming a year-end rally. All three major indexes closed at new record highs. Investors were optimistic about the affects of last week's trade truce. Earnings comments from Conagra Brands (NYSE:CAG) and Micron Technologies (NASDAQ:MU) also lifted investors' confidence with positive growth outlooks supporting the economy's health.

Nike (NYSE:NKE) gained 0.58% Thursday with its earnings report announcement. Nike reported second-quarter revenue of $10.33 billion, beating estimates by $240 million and increasing 10.2% year over year. Second-quarter GAAP earnings of 70 cents per share beat estimates by 12 cents.

Investors also started looking ahead to next month's fourth-quarter and full-year results, which will kick off with the big banks around Jan. 13.

In other news:

  • The House passed the USMCA trade agreement.

  • China announced a new list of tariff exemptions, including U.S. chemical and oil products.

  • Sweden increased its benchmark repo rate to 0.0%, moving out of negative territory.

  • The Current Account Report for the third quarter showed a deficit of $124.1 billion.

  • Jobless claims decreased to 234,000 from 252,000.

  • Existing home sales decreased 1.7% in November to a seasonally adjusted annual rate of 5.35 million.

  • The Conference Board's Leading Economic Indicators Index was unchanged in November following a decrease of 0.2%.

  • The Treasury held auctions for four-week bills at a rate of 1.51%, eight-week bills at a rate of 1.56% and five-year TIPS at a rate of 0.020%.

  • Mortgage rates were unchanged according to Freddie Mac's weekly mortgage market report. The average 30-year mortgage rate was 3.73% and the average 15-year mortgage rate was 3.19%.

In the S&P 500, real estate and technology led gains. In the Dow Jones Industrial Average, the following stocks led gains:

  • Cisco (NASDAQ:CSCO) 2.70%

  • 3M (NYSE:MMM) 1.85%

  • Johnson & Johnson (NYSE:JNJ) 1.51%

Small-cap stocks

In small caps, the Russell 2000 closed at 1,667.09 for a gain of 5.36 points or 0.32%. The S&P 600 closed at 1,022.44 for a gain of 2.91 points or 0.29%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,644.30 for a gain of 46.99 points or 0.44%. The Dow Jones U.S. Small-Cap Value Index closed at 9,989.78 for a gain of 23.06 points or 0.23%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 2,054.31 for a gain of 8.16 points or 0.40%; the S&P 100 at 1,429.91 for a gain of 6.83 points or 0.48%; the Nasdaq 100 at 8,641.29 for a gain of 60.67 points or 0.71%; the Russell 3000 at 1,878.65 for a gain of 8.36 points or 0.45%; the Russell 1000 at 1,770.59 for a gain of 8.03 points or 0.46%; the Wilshire 5000 at 32,760.40 for a gain of 144.55 points or 0.44%; and the Dow Jones U.S. Select Dividend Index at 752.14 for a loss of 0.14 points or -0.019%.

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