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By Staff Reporters
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Big banks powered the Dow higher h of positive economic headlines dropped. Financial institutions aced their Fed “stress test” that measures how they’d hold up during a downturn, Q1 GDP was revised much higher than previously calculated, and the number of Americans filing new unemployment claims fell the most in 20 months.
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Solid economic numbers lifted the S&P 500 and Russell 2000 to nearly two-week highs. So, here is where the major benchmarks ended:
- The S&P 500 Index was up 19.58 points (0.5%) at 4,396.44; the Dow Jones Industrial Average (DJIA) was up 269.76 points (0.8%) at 34,122.42; the NASDAQ Composite (COMP) was little changed at 13,591.33.
- The 10-year Treasury note yield (TNX) was up nearly 13 basis points at 3.838%.
- CBOE’s Volatility Index (VIX) was up 0.11 at 13.54.
Financial companies were among the strongest sectors Thursday, with the KBW Regional Banking Index (KRX) rising nearly 2% to its highest level in over a week.
Oilfield services stocks also gained behind strength in crude oil futures, which briefly climbed above $70 a barrel to their highest price in a week. Communications services and technology shares were among the weakest sectors.
The U.S. Dollar Index (DXY) strengthened to its highest level in over two weeks amid expectations for higher interest rates.
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Alternative Investments, Financial Planning, Funding Basics, Investing, Risk Management | Tagged: banks stress test, big banks, DJIA, DOW, DXY, energy, GDP, gold, KBW, NASDAQ, oil, S&P 500, TNX, treasury index, US Dollar, VIX | Leave a comment »
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