Breaking News

You are here » Indian-Commodity  :  International & World Stock  :  US markets end higher on Thursday

28-Dec2018

US markets end higher on Thursday

Extending their previous session's rally, the US markets ended higher on Thursday, prevailing over political uncertainty that left the markets fluttering throughout the day. However, profit taking helped to drag stocks lower early in the day, as traders cashed in on the rally seen on Wednesday, when the Dow posted its single-day point gain in history. Meanwhile, lingering concerns about the global economic outlook also weighed on the markets. On a percentage basis, the Dow's move from a 2.67% decline at its session low to a positive finish marked its biggest such intraday swing since October 4, 2011, when it recovered from a fall of 2.75% at its low. The Thursday turnabout was the largest such swing for the S&P 500 since May 25, 2010, and the largest for the Nasdaq since November 18, 2008.

On the economic front, the Labor Department released a report showing a slight drop in first-time claims for US unemployment benefits in the week ended December 22. The report said initial jobless claims slipped to 216,000, a decrease of 1,000 from the previous week's revised level of 217,000. Street had expected jobless claims to inch up to 217,000 from the 214,000 originally reported for the previous week. Meanwhile, a separate report from the Conference Board showed a significant deterioration in consumer confidence in the month of December. The Conference Board said its consumer confidence index slumped to 128.1 in December after dipping to a revised 136.4 in November. Street had expected the consumer confidence index to edge down to 134.0 from the 135.7 originally reported for the previous month.

Dow Jones Industrial Average surged 260.37 points or 1.14 percent to 23138.82, Nasdaq gained 25.14 points or 0.38 percent to 6579.49 and S&P 500 was up by 21.13 points or 0.86 percent to 2488.83.


Related News

View all news

US markets end higher after Trump says China trade talks to continue

The US markets ended higher on Friday after key negotiators cast a positive glow on trade talks. US Secretary of Treasury Steven Mnuchin indicated that bilateral talks were constructive even though an......

US markets lower after US President claims China broke the deal

The US markets ended lower on Thursday as trade tensions ramped up after US President Donald Trump threatened tariff retaliation on China, which he claims broke the deal. Anxiety over the prospect of a......

US markets end mostly lower on Wednesday

The US markets ended mostly lower on Wednesday as worries over US-China trade talks lingered. A notice in the Federal Register formally laid the groundwork to raise tariffs on $200 billion of Chinese imports......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......