Here’s what happened to the market on Thursday

Finance

Traders work on the floor of the New York Stock Exchange.

Brendan McDermid | Reuters

Dow Jones Industrial Average rises 88 points

The Dow climbed 89.92 points, or 0.30%, to 29,379.77. The S&P 500 gained 0.33% to close at 3,345.78. The Nasdaq Composite advanced 0.67% to 9,572.15. Wall Street managed to recover coronavirus-related losses amid a raft of strong economic data and corporate earnings.

Data, earnings outweigh coronavirus

The Dow joined the S&P 500 and Nasdaq in record territory, erasing its losses from the recent coronavirus scare. Investors are still keeping an eye on the latest news around the virus, but better-than-expected economic data — such as the latest weekly jobless claims numbers — and solid earnings from companies such as Twitter have outweighed the negative sentiment from the virus.

Twitter jumps, Boeing climbs

Twitter shares gained 15.06% after the social media company reported it made money from more users in the previous quarter than analysts expected. Boeing was among the best-performing Dow stocks on Thursday, gaining 3.60%.

What happens next?

Products You May Like

Articles You May Like

Shares of Charles Schwab jump after sources say DOJ approves deal for TD Ameritrade
Wall Street is still in for a ‘rough ride,’ Jim Cramer says
Stocks making the biggest moves in the premarket: Campbell Soup, Coty, Tiffany, Zoom & more
Here’s what you need to know about creating a will
Helping China cut carbon emissions isn’t a financial game every business can play

Leave a Reply

Your email address will not be published. Required fields are marked *