US Stock Indexes Rebound Thursday Following GDP Report

The Dow Jones Industrial Average closed at 25,169.88 on Thursday with a gain of 43.47 points or 0.17%. The S&P 500 closed at 2,788.86 for a gain of 5.84 points or 0.21%. The Nasdaq Composite closed at 7,567.72 for a gain of 20.41 points or 0.27%. The VIX Volatility Index was lower at 17.35 for a loss of 0.55 points or -3.07%.

Thursday’s market movers

U.S. market indexes closed higher Thursday. Stocks rebounded from trade war selling and investors weighed a list of economic reports. The Bureau of Economic Analysis released its second estimate for gross domestic product, which showed a fairly strong report with GDP increasing 3.1% in the first quarter, down just slightly from the first estimate of 3.2%.

Overall, economic reports affecting market trading included the following:

GDP increased 3.1% in the first quarter according to the Bureau of Economic Analysis’ second estimate. Corporate profits decreased 3.5% from the fourth quarter to the first quarter. The PCE Price Index increased 0.4% in the first quarter. The Core PCE Price Index, excluding food and energy, increased 1% in the first quarter. Jobless claims increased to 215,000 from 212,000. Wholesale inventories increased 0.7% in April. The goods trade balance showed a deficit of $72.12 billion. Pending home sales decreased 1.5% in April and reported a year-over-year decrease of 2%. The Treasury held auctions for four-week bills at a rate of 2.330% and eight-week bills at a rate of 2.330%. Freddie Mac’s weekly mortgage market survey showed mortgage rates falling. The 30-year fixed-rate mortgage averaged 3.99%, decreasing from 4.06%. The 15-year fixed-rate mortgage averaged 3.46%, decreasing from 3.51%.

In the S&P 500, the consumer discretionary, real estate and health care sectors led gains. In the Dow Jones, the following stocks led gains:

After the closing bell, investors were watching

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