U.S. stocks closed higher on Thursday in a choppy trading session that saw investors weigh in an onslaught of economic data, as the fourth-quarter gross domestic product came in higher than expectations, and digested mixed corporate earnings.
The U.S. stock market, as measured by the S&P 500 Index (SPX) has been volatile on an intraday basis, but net gains and losses have been small. Meanwhile, SPX is toying with the downtrend line that defines this bear market as well as with its declining 200-day moving average. On one day this week, the entire range of SPX was above its 200-day moving average, for the first time since last March.
U.S. stocks closed higher on Monday, led by a tech rally, as investors geared up for a busy week of earnings and grew optimistic about the Fed going slow on its interest rate hikes in the coming months.