Highlights
Stocks gained on positive economic reports and favorable earnings news Thursday. The Dow Jones industrial average and the S&P 500 both rose 0.5 percent while the Nasdaq gained 0.7 percent. US Treasury yields, the dollar and oil prices all gained.
Better than expected retail sales and lower than expected jobless claims suggested a resilient economy and provided a lift for stocks despite higher interest rates. Best sectors included financials, consumer staples, technology and industrials. Lagging were real estate and health care.
Definition
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.
Description
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.