Home Stock & Shares U.S. stocks finish higher

U.S. stocks finish higher

by Jonathan Adams
stocks

The Dow Jones Industrial Average gained 0.54%, the S&P 500 added 0.52%, and the Nasdaq 100 was nearly flat at 11662

On Thursday, U.S. stocks closed higher. The Dow Jones Industrial Average rebounded 152 points (+0.54%) to 28363, the S&P 500 gained 17 points (+0.52%) to 3453, and the Nasdaq 100 was little changed at 11662.

While the political tug-of-war on the fiscal stimulus package continued, investors were encouraged by upbeat jobs and housing reports.

The U.S. Labor Department said Initial Jobless Claims dropped to 787,000 and Continuing Claims fell to 8.373 million. Existing Homes Sales increased to an annualized rate of 6.54 million units in September.

Energy (+4.16%), Banks (+3.5%) and Automobiles & Components (+3.39%) sectors performed the best. Align Technology (+34.97%), Gap (+13.65%), Discover Financial Services (+9.17%) and Snap-on (+9.13%) were top gainers.

Coca-Cola (+1.38%) and AT&T (+5.84%) also traded higher after reporting better-than-expected quarterly results.

European stocks were mixed. The Stoxx Europe 600 Index declined 0.14%, Germany’s DAX 30 eased a further 0.12%, France’s CAC 40 was little changed, while the U.K.’s FTSE 100 added 0.16%.

U.S. Treasury prices remained under pressure, as the benchmark 10-year Treasury yield advanced further to 0.845% from 0.815% Wednesday.

Spot gold fell $19 (-1.03%) to $1,904 an ounce.

U.S. WTI crude futures (December) gained $0.63 (+1.57%) to $40.66 a barrel.

On the forex front, the U.S. dollar regained some strength against other major currencies. The ICE Dollar Index rebounded 0.34% to 92.92 halting a four-session losing streak.

EUR/USD fell 0.36% to 1.1818, and GBP/USD retreated 0.51% to 1.3082 on possible profit-taking by traders following gains in the prior session. At the same time, no progress on Brexit trade talks was reported by U.K. and European Union officials.

USD/JPY climbed 0.26% to 104.86 after touching a one-month low of 104.34 Wednesday.

AUD/USD was flat at 0.7117.

USD/CNH (offshore yuan) rose 0.40% to 6.6706 ending a four-day decline.

Important
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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