The Dow Jones Industrial Average closed at 26,384.63 on Thursday with a gain of 166.50 points or 0.64%. The S&P 500 closed at 2,879.39 for a gain of 5.99 points or 0.21%. The Nasdaq Composite closed at 7,891.78 for a loss of 3.77 points or -0.05%. The VIX Volatility Index was lower at 13.57 for a loss of 0.17 points or -1.24%.
Thursday’s market movers
Investors continued to remain optimistic about a trade agreement with China, helping the Dow Jones and S&P 500 to close with a gain on Thursday. Reports suggested President Trump is planning to announce a meeting with China’s President Xi Jinping in the next few days. Payrolls are also expected to increase by 170,000 in Friday’s March jobs report.
In technology, the Nasdaq fell with Tesla (NASDAQ:TSLA) as a top detractor. The company’s first-quarter deliveries report disappointed analysts and the market with a decrease of 31% from the fourth quarter.
On the economic calendar, the following reports affected market trading:
Jobless claims decreased to 202, 000 from 212,000. The Treasury held an auction for four-week bills at a rate of 2.39%. Mortgage rates were stable in Freddie Mac’s weekly mortgage market survey. The 30-year fixed-rate mortgage averaged 4.08%, increasing from 4.06%. The 15-year fixed-rate mortgage averaged 3.56%, decreasing from 3.57%.
In the Dow Jones Industrial Average, the following stocks led gains:
In small caps, the Russell 2000 closed at 1,567.49 for a gain of 6.58 points or 0.42%. The S&P 600 closed at 957.65 for a gain of 7.26 points or 0.76%. The Dow Jones Small-Cap Growth TSM Index closed at 9,945.93 for a gain of 21.46 points or 0.22%. The Dow Jones Small-Cap Value TSM Index closed at 9,659.63 for a gain of 84.68 points or 0.88%.
Other notable indexes