Wall Street closed higher on Thursday supported by technology stock’s rally. Moreover, Fed Chairman Jerome Powell’s comment on inflation also boosted market participants’ confidence. All the three major stock indexes ended in green.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) was up 0.2% to close at 33,503.57. Notably, 15 components of the 30-stock blue-chip index ended in the green while 15 in red. The tech-heavy Nasdaq Composite finished at 13,829.31, gaining 1% or 140.47 points due to strong performance by large-cap technology stocks.
Meanwhile, the S&P 500 rose 0.4% to end at 4,097.17, marking a fresh closing high. In intraday trading, the broad-market index touched a fresh all-time high at 4,098.19. The Technology Select Sector SPDR (XLK) surged 1.4% while the Energy Select Sector SPDR (XLE) tanked 1.3%. Notably, eight out of eleven sectors of the benchmark index closed in the green while three in red.
The fear-gauge CBOE Volatility Index (VIX) was down 1.2% to 16.95. A total of 9.23 billion shares were traded on Thursday, lower than the last 20-session average of 11.93 billion. Advancers outnumbered decliners on the NYSE by a 1.80-to-1 ratio. On Nasdaq, a 2.13-to-1 ratio favored advancing issues.