Thursday Stock Market Update
The Dow Jones Industrial Average and S&P 500 posted gains, but the Nasdaq Composite fell on Thursday, according to CNBC.
- The Dow Jones Industrial Average gained 160.35 points, or 0.60 percent, to close at 28,492.27.
- The S&P 500 gained .20 percent to close at 3,484.55.
- The Nasdaq Composite fell 0.30 percent to close at 11,625.34.
Stocks were volatile throughout the day as the markets priced in the Federal Reserve keeping interest rates lower for the foreseeable future.
Bank stocks surged. JPMorgan Chase gained 3 percent, Citigroup gained 1.7 percent, and Bank of America gained 2.3 percent. Big tech lagged. Facebook fell 3.5 percent, Amazon fell 1.2 percent, Netflix fell 3.9 percent and Alphabet fell 1 percent.
On Friday, data on consumer sentiment and personal income will be released.