Published: Sat, October 14, 2017
Business | By Max Garcia

How major USA stock indexes fared on Thursday

How major USA stock indexes fared on Thursday

The Nasdaq gained 14.29 (+0.22 percent) to close at 6,605.80, while the S&P 500 finished at 2,553.17, up 2.24 (+0.09 percent) from its open. The Nasdaq Composite Index decreased 12.04 points, or 0.18 percent, to 6,591.51. In individual stocks, Bank of America and Wells Fargo & Co. reported third-quarter earnings today, with B. of A. registering some gains and Shares of Wells Fargo declined on its weaker-than-expected numbers. In the 12 months through September, the index rose 2.6 percent.

The EIA Petroleum Status report showed a decrease in oil inventory of 2.7 million barrels.

'Because of the reach that financials have into the economy, the market likes to see its what earnings are reflecting, be it on loan growth, its really trying to look at the health of the economy, ' Nana Adae, global investment specialist, J.P. Morgan Private Bank in Chicago. Technology was lower with the S&P 500 technology sector down 0.25%.

The Russell 2000 index of smaller-company stocks shed 1.76 points, or 0.1 percent, to 1,505.16.

The gains were led by Apple and Facebook and Microsoft, which rose between 0.45 per cent and 1 per cent.

On the economic front, the Labor Department said its producer price index for final demand increased 0.4 percent last month after rising 0.2 percent in August.

The Dow is up 3,078.41 points, or 15.6 percent.

Major stock indexes held modest gains Friday afternoon, with the Dow Jones industrial average and S&P 500 poised for their fifth straight weekly price gain.

The Nasdaq is up 1,208.39 points, or 22.4 percent.

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