Wall Street Ends The Day Higher On Positive Economic Data

Michael Teague |

Stocks were up slightly on Thursday, as economic data indicated a better outlook for the job market, as well as a substantial increase in business activity.

The Standard & Poor’s 500 ended the day 0.12 percent higher at 1,655.08 points, while the Dow Jones Industrial Average rose a slight 0.04 percent to close at 14,937.48, and the NASDAQ added 0.27 percent with a final tally of 3,658.78.

According to the Department of Labor, initial weekly jobless claims were at 323,000, down from last week’s 332,000, and below the 330,000 figure that had been the expectation of economists. Meanwhile, the August ISM services index took a leap that resulted in a reading of 58.6, up from the August reading of 56. Both figures suggest better than expected economic activity, and could bolster the Federal Reserve’s case for beginning the winding down of fiscal stimulus.



On the S&P 500, Boston Scientific (BSX) , one of the year’s best performing stocks, added nearly 6 percent to end the day at 11.57 on heavy trading. Meanwhile, tech stocks fared well, with Micron Technology (MU) continuing its rise, and Advanced Mirco Devices (AMD) in tow.

The Dow was more or less flat, but was held back by losses for AT&T (T) and Home Depot (HD) , both down over 1 percent.

On the NASDAQ, Himax Technologies (HIMX) continued its streak, rising over 17 percent to finish the day at $8.62 on high volume. Other techs helped out the index, with substantial gains for Groupon (GRPN) , Broadcom Corp. (BRCM) , and Zynga Inc. (ZNGA) .

 

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not 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

Companies

Symbol Name Price Change % Volume
HIMX Himax Technologies Inc. 5.45 -0.01 -0.18 2,240,164
AMD Advanced Micro Devices Inc. 9.75 -0.02 -0.20 27,982,147
BSX Boston Scientific Corporation 23.90 0.02 0.08 8,583,138
HD Home Depot Inc. (The) 135.60 0.21 0.16 4,853,902
ZNGA Zynga Inc. 2.64 0.01 0.38 9,480,626
GRPN Groupon Inc. 3.45 -0.06 -1.71 7,312,951
BRCM Broadcom Corp. n/a n/a n/a 0
MU Micron Technology Inc. 21.96 0.25 1.15 19,978,669
T AT&T Inc. 41.45 0.45 1.10 25,164,892
BRKNF Bradken Ltd Ord 2.21 0.00 0.00 0

Comments

Emerging Growth

H-Source Holdings Ltd.

H-Source Holdings Inc. is a technology company operating within the healthcare industry through its subsidiary, H-Source, Inc. The Company has developed a transaction platform that provides a private, secure and…

Private Markets

MyForce, Inc.

As parents, we constantly worry about the safety of our loved ones. The media bombards us with incidents from across the nation school shootings, frequent assaults on campuses, and crimes…

Cross Campus

With over 500 members and operating 80,000 square feet by summer 2016, Cross Campus is one of the country’s top ten shared, collaborative office or "coworking" operators in the US.…