Stocks were mixed but most sectors were better Thursday with a boost from earnings and underlying positive sentiment linked to positive trade news. The Dow Jones industrial average lost 0.7 percent, the S&P 500 gained 0.1 percent, and the Nasdaq was up 0.2 percent. US Treasury yields, the dollar and oil prices all rose.

The market continues to anticipate a trade accord with the European Union along the lines of the US-Japan deal, with other major trading partners falling into line.

Strong quarterly results from Alphabet and T-Mobile helped power the communications sector higher and lift the Nasdaq. Energy was another winner with a boost from rising oil prices.

Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.

Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.