Stocks Stem 3 Days Of Losses As All Indices Rally

Michael Teague  |

Stocks rallied on Thursday to bookend three consecutive days of losses in a rally that lifted all three benchmark indices higher by the closing bell.

The Standard & Poor’s 500 closed 0.39 percent higher at 1,697.47, while the Dow Jones Industrial Average ended at 15,498.24 on an advance of 0.18 percent, and the NASDAQ finished the day at 3,669.12, up 0.41 percent.

The Department of Labor’s weekly initial jobless report was the most significant economic data point of the day. The number of claims for the week came in at 333,000, slightly shy of the 335,000 that economists had expected, while last week’s reading was revised up from 326,00 to 328,000, bringing the four-week average to a nearly six-year low.

Tech stocks propelled the S&P 500 higher, with Microsoft (MSFT) , EMC Corporation (EMC) , and QUALCOMM Inc. (QCOM) ending the day higher on the heavy trading.

Microsoft also led the way on the Dow, followed by farm and construction equipment manufacturer Caterpillar (CAT) and aluminum manufacturer Alcoa ($AA).

Tech shares were also the most heavily traded gainers on the NASDAQ, with Groupon (GRPN) up over 21 percent after releasing a promising second-quarter earnings report in late trading on Wednesday. Other techs that did well include Micron Technology (MU) and Stratasys Inc. (SSYS) , up 14 percent to $98.26.

Tesla Motors (TSLA) continued its exponential rise after releasing its own Q2 earnings report in the previous day’s afterhours session that showed the company registering its second straight quarterly profit, as well as beating significantly on earnings, and finished Thursday over 14 percent higher at $153.50.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not necessarily represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer.

Watchlist

Symbol Last Price Change % Change
AAPL

     
AMZN

     
HD

     
JPM

     
IBM

     
BA

     
WMT

     
DIS

     
GOOG

     
XOM

     
BRK.A

     
FB

     
JNJ

     
WFC

     
T

     
NFLX

     
TSLA

     
V

     
UNH

     
PG