The Dow Jones Industrial Average closed at 25,706.09 on Thursday with a loss of 361.19 points or -1.39%. The S&P 500 closed at 3,152.05 for a loss of 17.89 points or -0.56%. The Nasdaq Composite closed at 10,547.75 for a gain of 55.25 points or 0.53%. The VIX Volatility Index was higher at 29.28 for a gain of 1.20 points or 4.27%.
Thursday's market movers
Tech stocks gained on Thursday as the economy looks more heavily to technologies supporting pandemic concerns. The Nasdaq is now up 17.56% for the year, while both the S&P 500 and Dow Jones remain in the negative.
The weekly jobless claims report showed 1.314 million Americans applying for jobless claims, down from the previous week's 1.413 million. Continuing jobless claims were slightly lower at 18.062 million versus 18.760 million.
In other news:
- Disney (NYSE:DIS) gained 0.15% with the reopening of Disney World in Florida.
- Wholesale inventories decreased 1.2% in May following an increase of 0.2%.
- The Treasury held auctions for four-week bills at a rate of 0.100%, eight-week bills at a rate of 0.120% and 30-year bonds at a rate of 1.330%.
- Mortgage rates reached record lows, according to the Freddie Mac Weekly Mortgage Market Survey. The 30-year fixed-rate mortgage averaged 3.03%, down from 3.07%. The 15-year fixed-rate mortgage averaged 2.51%, down from 2.56%.
Across sectors, energy, financials and industrials led losses. In the Nasdaq 100, the following stocks led gains for the day:
- Advanced Micro Devices (NASDAQ:AMD) 7.3%
- NetEase (NASDAQ:NTES) 6.36%
- Maxim Integrated Products (NASDAQ:MXIM) 4.37%
- Microchip Technology (NASDAQ:MCHP) 3.79%
- Amazon (NASDAQ:AMZN) 3.53%
- Costco (NASDAQ:COST) 3.43%
- Nvidia (NASDAQ:NVDA) 2.95%
- Electronic Arts (NASDAQ:EA) 2.43%
- Citrix Systems (NASDAQ:CTXS) 2.3%
- Tesla (NASDAQ:TSLA) 2.22%
In small caps, the Russell 2000 closed at 1,398.92 for a loss of 28.48 points or -2.00%. The S&P 600 closed at 799.86 for a loss of 18.70 points or -2.28%. The Dow Jones U.S. Small-Cap Growth Index closed at 9,925.57 for a loss of 105.42 points or -1.05%. The Dow Jones U.S. Small-Cap Value Index closed at 6,470.60 for a loss of 219.28 points or -3.28%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,748.61 for a loss of 26.25 points or -1.48%; the S&P 100 at 1,466.04 for a loss of 5.11 points or -0.35%; the Nasdaq 100 at 10,754.59 for a gain of 87.89 points or 0.82%; the Russell 3000 at 1,838.08 for a loss of 11.47 points or -0.62%; the Russell 1000 at 1,749.59 for a loss of 9.48 points or -0.54%; the Wilshire 5000 at 32,117.66 for a loss of 198.85 points or -0.62%; and the Dow Jones U.S. Select Dividend Index at 554.06 for a loss of 15.74 points or -2.76%.
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This article first appeared on GuruFocus.