Dow, S&P 500 Poised For 5th Straight Weekly Gain; Steel Names Rise

Dow, S&P 500 Poised For 5th Straight Weekly Gain; Steel Names Rise

USA stocks closed lower on Thursday as investors digested third quarter earnings reports as well as latest economic data. Six of the 11 major S&P indexes were lower, led by a 0.6 percent drop in telecom services index.

For the week to Thursday the S&P 500 is up 1.60 points, or 0.1% and t he Dow is up 67.34 points, or 0.3%. The Nasdaq Composite index rose 0.2% to a record close at 6,605.80, and 0.2% on the week for a third weekly gain in a row.

Crude oil was about 1.46 percent higher with prices at $51 per barrel.

The Dow Jones Industrial Average climbed 30.71 (+0.13 percent) to finish at 22,871.72.

JPMorgan Chase and Citigroup also posted stronger-than-expected quarterly results on Thursday.

The Producer Price Index increased 0.4% for the month and 2.6% for the year.


Also limiting the day's gains, the healthcare sector.SPXHC was down 0.3 percent as health insurers and hospital operators tumbled on news that President Donald Trump scrapped billions of dollars in Obamacare subsidies to private insurers for low-income Americans.

The S&P 500 is up 312.10 points, or 13.9 percent.

In small-caps, the Russell 2000 Index closed at 1,505.16 for a loss of 1.76 points or 0.12%.

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

Using Nasdaq as the proxy tech index, technology stocks have outperformed the broader market indices - Dow Jones Industrial Average and S&P 500 - so far this year.

The Russell 2000 is up 148.03 points, or 10.9 percent.

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