U.S. equities finished higher at the close on Thursday, powered by advances in Technology, Oil & Gas and Industrials stocks that pushed the main indexes into positive territory.
By the close on the New York Stock Exchange, the Dow Jones Industrial Average rose 0.75%, reaching a new three-month high. The S&P 500 added 0.77% and the Nasdaq Composite gained 0.88%.
Major movers on the Dow
The session's largest individual gainer on the Dow was Cisco Systems Inc (NASDAQ:CSCO), which climbed 13.41% - a rise of 13.66 points - to finish at 115.53. NVIDIA Corporation (NASDAQ:NVDA) also recorded a strong advance, up 4.39% or 9.92 points to 235.75 at the close. Industrials heavyweight Caterpillar Inc (NYSE:CAT) rose 1.99%, gaining 17.92 points to end the session at 920.22.
On the downside, Boeing Co (NYSE:BA) led decliners among Dow components, sliding 4.73% or 11.39 points to 229.21 at the close. 3M Company (NYSE:MMM) slipped 1.35% or 1.98 points to 145.12, while Amazon.com Inc (NASDAQ:AMZN) fell 1.08%, down 2.91 points to 267.22.
S&P 500 movers
Among S&P 500 names, Enphase Energy Inc (NASDAQ:ENPH) led gains, jumping 14.26% to 47.99. Cisco Systems was also among the session leaders on the index, rising 13.41% to 115.53. JB Hunt Transport Services Inc (NASDAQ:JBHT) climbed 7.09% to close at 254.66.
The largest declines on the S&P 500 were Biogen Inc (NASDAQ:BIIB), down 6.48% to 191.27; Qualcomm Incorporated (NASDAQ:QCOM), which lost 6.14% to settle at 200.08; and CBRE Group Inc Class A (NYSE:CBRE), which fell 5.83% to 132.45 at the close.
Notable moves on the Nasdaq Composite
On the Nasdaq Composite, several small-cap and micro-cap names posted outsized percentage swings. Smart Power Corp (NASDAQ:CREG) surged 250.00% to 0.70. Leslies Inc (NASDAQ:LESL) climbed 143.36% to 3.48, and Quantum Cyber NV (NASDAQ:QUCY) rose 123.51% to 2.99.
At the other extreme, Dreamland Ltd (NASDAQ:TDIC) plunged 96.53% to 0.80, STAK Inc (NASDAQ:STAK) fell 62.71% to 0.88, and Work Medical Technology Group Ltd (NASDAQ:WOK) dropped 52.90% to 1.30 at the close.
Market breadth and notable highs
Advancing issues outnumbered decliners on the NYSE by 1,593 to 1,131, with 100 stocks unchanged. On the Nasdaq, 1,867 stocks rose while 1,483 declined and 188 finished flat.
Several large-cap stocks closed at record highs. Cisco Systems rose to all-time highs, finishing at 115.53 after a 13.41% increase. JB Hunt Transport Services also closed at an all-time high of 254.66 following a 7.09% gain. NVIDIA closed at a record high as well, up 4.39% to 235.75. Quantum Cyber NV climbed to a 52-week high, closing at 2.99 after a 123.51% advance.
Volatility, commodities and currencies
The CBOE Volatility Index, which measures implied volatility for S&P 500 options, fell 3.41% to 17.26.
In commodities, the report shows Gold Futures for June delivery declined 1.15% - down 54.25 - to $4,652.45 a troy ounce. Crude oil for June delivery rose 0.92% or 0.93 to $101.95 a barrel, while the July Brent contract increased 0.83% or 0.88 to $106.51 a barrel.
Foreign-exchange moves included EUR/USD at 1.17, unchanged in the reporting, while USD/JPY rose 0.34% to 158.38. The US Dollar Index Futures was up 0.37% at 98.79.
What this means
Thursday's session saw broad-based gains led by technology, energy and industrial sectors, with strong performances from several large-cap technology names and notable percentage moves among small-cap Nasdaq listings. Volatility eased modestly while oil prices moved higher and gold futures fell.
Data referenced in this report reflect the close of trading as reported in the market summary.