U.S. equity markets closed positively on Thursday, supported by strong performances across the Consumer Goods, Technology, and Basic Materials sectors. The Dow Jones Industrial Average ended the session with a 0.63% increase, closing higher by 235.12 points at 37,344.12. The S&P 500 gained 0.55%, while the NASDAQ Composite recorded an intraday gain of 0.91%, reflecting ongoing investor interest in technology and materials-related industries.
Within the Dow Jones, key contributors to the upward move included 3M Company (NYSE:MMM), which posted a 3.04% rise to finish at $160.62, adding 4.74 points to its share price. Salesforce Inc (NYSE:CRM) shared in the rally, growing 2.94% to $228.09, up 6.51 points. The consumer staples giant Procter & Gamble Company (NYSE:PG) increased by 2.65% to close at $149.93, marking a 3.87-point rise.
Contrastingly, certain Dow constituents faced downward pressure. Merck & Company Inc (NYSE:MRK) slid 1.74% or 1.93 points to $109.18. Sherwin-Williams Co (NYSE:SHW) saw a decrease of 1.59%, closing at $350.63 after losing 5.68 points. Walmart Inc (NASDAQ:WMT) dipped 1.28% in the session, ending at $117.83.
The S&P 500's leading performers exhibited notable strength, with Enphase Energy Inc (NASDAQ:ENPH) surging 12.54% to $40.48. Networking hardware supplier Arista Networks (NYSE:ANET) rose 8.74%, closing at $138.41, while Northern Trust Corporation (NASDAQ:NTRS) increased by 6.02% to reach $153.12, marking an all-time high.
Meanwhile, some S&P 500 members posted significant losses. Abbott Laboratories (NYSE:ABT) dropped sharply by 10.04% to $108.61, descending to a 52-week low. McCormick & Company Incorporated (NYSE:MKC) declined 8.05%, settling at $61.20, also a 52-week trough. GE Aerospace (NYSE:GE) decreased 7.38% to close at $295.00.
In the NASDAQ Composite, the session’s strongest performers included Digital Currency X Technology Inc (NASDAQ:DCX), which experienced an extraordinary 1,294.57% increase to $4.98. Additionally, 60 Degrees Pharmaceuticals Inc (NASDAQ:SXTP) rose 150.08% to $5.00, while IO Biotech Inc (NASDAQ:IOBT) climbed 128.85% to close at $0.47.
On the flip side, several NASDAQ stocks encountered steep losses. C3is Inc (NASDAQ:CISS) declined by 35.51% to a five-year low of $0.09. Mingteng International Corp Inc (NASDAQ:MTEN) dropped 26.44%, settling at $0.02, and eLong Power Holding Ltd (NASDAQ:ELPW) decreased 26.38%, closing at $1.20.
Market breadth favored advancing stocks over decliners, with 1,695 advancing and 1,066 declining on the New York Stock Exchange, alongside 71 unchanged. The Nasdaq saw 2,232 stocks rise contrasted with 1,145 in decline, with 167 unchanged.
Notably, shares of Abbott Laboratories and McCormick & Company slipped to their lowest levels in 52 weeks, while Northern Trust Corporation reached new all-time peaks. Conversely, C3is Inc and Mingteng International Corp dropped to record lows. This mixed performance highlights the divergent trends across market capitalization and sector groupings.
The CBOE Volatility Index (VIX), a key measure of market volatility, decreased by 7.40% to settle at 15.65, indicating a reduction in investor uncertainty for S&P 500 options.
In commodities trading, February gold futures rose 1.87%, gaining $90.59 to $4,928.09 per troy ounce. Conversely, crude oil for March delivery declined 1.91% to $59.46 a barrel, with Brent crude falling 1.64% to $64.17 per barrel.
Currency markets showed the euro rising against the dollar by 0.58% to 1.18, while the Japanese yen edged higher by 0.08% to 158.40 per U.S. dollar. The U.S. Dollar Index Futures slipped 0.43% to 98.14 during the trading session.
Overall, Thursday’s trading session reflected a cautiously optimistic environment as major sectors contributed to the broad market gains, though certain individual stocks faced significant headwinds amid ongoing market uncertainties and sector-specific dynamics.
On Thursday, U.S. stock markets closed with positive momentum as the Dow Jones Industrial Average, S&P 500, and NASDAQ Composite all registered gains. The Consumer Goods, Technology, and Basic Materials sectors led market advances. While several large-cap stocks showed robust gains, including 3M, Salesforce, and Procter & Gamble, others such as Merck, Sherwin-Williams, and Walmart experienced declines. Significant volatility was observed with some smaller caps experiencing dramatic percentage moves. Market breadth favored advancing issues, and volatility levels eased during the session.
Key Points
- Major U.S. indices closed higher, led by gains in Consumer Goods, Technology, and Basic Materials sectors.
- Noteworthy gains included 3M, Salesforce, and Procter & Gamble, while Merck, Sherwin-Williams, and Walmart posted losses.
- Significant volatility occurred in smaller cap stocks, with substantial percentage increases and decreases, including record highs and lows for certain companies.
Risks
- Some large-cap healthcare and consumer stocks declined sharply, such as Abbott Laboratories and McCormick, signaling sector-specific pressures in the healthcare and consumer staples sectors.
- Volatility remains present in smaller, less liquid stocks, indicating potential uncertainty in niche market segments.
- Commodity price fluctuations, particularly in crude oil and gold, and currency movements could impact broader market stability and sector performance.