US close: Markets finish higher as financials, tech stocks rally
US markets turned around earlier losses by the close on Thursday, as investors shrugged off confusion over Trump's trade plans and instead supported a rally for financial plays and technology stocks.
Dow Jones I.A.
38,437.30
04:30 15/10/20
Nasdaq 100
17,431.58
05:30 23/04/24
The Dow Jones Industrial Average was ahead 0.41% at 24,216.05, the S&P 500 added 0.62% to 2,716.31, and the Nasdaq 100 was up 0.89% at 7,031.60..
“Given the current environment when there lots of uncertainty surrounding global trade, investors continue to go to growth, such as technology shares and domestic stocks such as small-caps," said CFRA investment strategist Lindsey Bell.
On the data front, initial US unemployment claims increased last week but remained near multi-decade lows.
For the week ended 23 June, claims rose by 9,000 to reach 227,000, according to the Department of Labor.
Economists had forecast a reading 220,000.
In other news, the US economy slowed a tad more than previously estimated during the first quarter of 2018.
Gross domestic product increased 2% annually during the three months ended 31 March, the Commerce Department said on Thursday, shy of the 2.2% estimate it reported last month.
The economy grew at a 2.9% rate in the fourth quarter, with the downgraded seen as a reflection of softer consumer spending and a smaller inventory accumulation than forecast by Washington.
In corporate news, shares in transatlantic drug peddler Walgreens Boots Alliance slumped 9.9% after it reported a 15.5% jump in quarterly profit, while spice and flavour company McCormick's was 8.4% hotter after the release of its second-quarter numbers.
Eli Lilly gained 0.97% after the pharmaceutical group announced positive results from a mid-stage trial of a treatment for inflammatory disease Ankylosing Spondylitis.
Elsewhere, Bed Bath & Beyond lost 3.82% after the home furnishings retailer posted weaker-than-expected quarterly same-store sales late on Wednesday.
Dow Jones - Risers
Verizon Communications Inc. (VZ) $50.86 3.14%
International Business Machines Corp. (IBM) $140.04 1.86%
JP Morgan Chase & Co. (JPM) $104.93 1.64%
Goldman Sachs Group Inc. (GS) $223.42 1.47%
Boeing Co. (BA) $334.42 1.46%
Cisco Systems Inc. (CSCO) $42.94 1.44%
Visa Inc. (V) $132.74 1.31%
Chevron Corp. (CVX) $125.66 1.21%
Microsoft Corp. (MSFT) $98.63 1.12%
Intel Corp. (INTC) $49.25 1.00%
Dow Jones - Fallers
Unitedhealth Group Inc. (UNH) $244.94 -1.32%
Walmart Inc. (WMT) $85.86 -1.19%
General Electric Co. (GE) $13.84 -0.93%
McDonald's Corp. (MCD) $156.33 -0.70%
Dowdupont Inc. (DWDP) $66.15 -0.24%
American Express Co. (AXP) $97.01 0.01%
Home Depot Inc. (HD) $195.21 0.10%
United Technologies Corp. (UTX) $124.60 0.19%
Exxon Mobil Corp. (XOM) $81.97 0.32%
Johnson & Johnson (JNJ) $122.00 0.32%
S&P 500 - Risers
McCormick & Co. (MKC) $114.83 8.40%
Diamond Offshore Drilling Inc. (DO) $20.69 7.99%
Endo International Plc (ENDP) $9.83 7.90%
Accenture Plc (ACN) $164.60 5.90%
SCANA Corp. (SCG) $38.49 4.65%
Welltower Inc (WELL) $62.36 4.09%
Mallinckrodt Plc Ordinary Shares (MNK) $19.17 3.56%
Activision Blizzard Inc. (ATVI) $76.01 3.53%
Verizon Communications Inc. (VZ) $50.86 3.14%
Chesapeake Energy Corp. (CHK) $5.18 2.98%
S&P 500 - Fallers
Frontier Communications Co. (FTR) $5.26 -12.25%
Chipotle Mexican Grill Inc. (CMG) $428.36 -7.22%
ConAgra Brands Inc (CAG) $35.83 -6.28%
McKesson Corp. (MCK) $135.80 -6.12%
CVS Health Corp (CVS) $65.78 -5.77%
Cardinal Health Inc. (CAH) $50.37 -5.53%
Carnival Corp. (CCL) $57.16 -4.35%
Amerisource Bergen Corp. (ABC) $86.10 -4.14%
Bed Bath & Beyond Inc. (BBBY) $19.41 -3.82%
Mylan Inc. (MYL) $36.33 -2.99%
Nasdaq 100 - Risers
Shire Plc Ads (SHPG) $168.41 4.43%
Mercadolibre Inc. (MELI) $296.80 4.01%
Take-Two Interactive Software Inc. (TTWO) $118.06 3.60%
Activision Blizzard Inc. (ATVI) $76.01 3.53%
Ctrip.Com International Ltd. Ads (CTRP) $48.01 3.16%
Intuit Inc. (INTU) $204.02 2.93%
Sirius XM Holdings Inc (SIRI) $6.82 2.56%
Amazon.Com Inc. (AMZN) $1,701.45 2.47%
Gilead Sciences Inc. (GILD) $70.33 2.46%
Paypal Holdings Inc (PYPL) $82.48 2.24%
Nasdaq 100 - Fallers
Walgreens Boots Alliance, Inc. (WBA) $59.70 -9.90%
Mylan Inc. (MYL) $36.33 -2.99%
Starbucks Corp. (SBUX) $48.54 -2.61%
Henry Schein Inc. (HSIC) $72.66 -1.54%
Express Scripts Holding Co (ESRX) $77.62 -1.42%
Liberty Global plc Series A (LBTYA) $27.92 -1.41%
Marriott International - Class A (MAR) $125.26 -1.32%
Liberty Global plc Series C (LBTYK) $26.91 -1.28%
Broadcom Inc. (AVGO) $244.90 -0.89%
Celgene Corp. (CELG) $76.66 -0.76%