US Stocks Rebound and the Major Indexes Close Higher Thursday

The Dow Jones Industrial Average closed at 34,084.15 on Thursday with a gain of 188.11 points or 0.55%. The S&P 500 closed at 4,159.12 for a gain of 43.44 points or 1.06%. The Nasdaq Composite closed at 13,535.74 for a gain of 236.00 points or 1.77%. The VIX Volatility Index was lower at 20.67 for a loss of 1.51 points or -6.81%.

  • Thursday’s market movers
  • SOXX 15-Year Financial Data
  • The intrinsic value of SOXX
  • Peter Lynch Chart of SOXX

U.S. stocks rebounded Thursday after a three-day selloff, helping the major indexes to close with gains. Cryptocurrencies also rebounded slightly, with the Grayscale Digital Fund (GDLC) up 6.90% and the Bitwise Crypto 10 Index (BITW) up 2.62%. On Thursday, The Treasury said it could propose more reporting for crypto transfers of $10,000 or more. The Federal Reserve also reported it would issue a discussion paper on digital payments and central bank digital currencies by the end of the summer.

Across the board:

The iShares PHLX Semiconductor ETF (NASDAQ:SOXX) gained 2.63%

Applied Materials (NASDAQ:AMAT): Revenue of $5.58 billion increased 40.9% year over year and beat estimates by $180 million. Executives said business was helped by the global chip shortage. Fiscal second-quarter GAAP earnings of $1.43 per share missed estimates by 5 cents and non-GAAP earnings of $1.63 beat estimates by 12 cents. The stock gained 4.42%.

  • MoneyGram (NASDAQ:MGI) gained 8.22% following a 95% increase in April MoneyGram Online cross border transactions.
  • Moderna (NASDAQ:MRNA) rose 5.05%.
  • Zoom Video Communications (NASDAQ:ZM) climbed 4.59%.
  • The 10-year Treasury ended with a yield of 1.6830%.

In other news:

  • India reported the world’s highest daily Covid death toll count.
  • Israel and Hamas agreed to a cease fire.
  • Oprah Winfrey’s Oatly (OTLY) gained 18.82% in its first day of trading.
  • 444,000 Americans filed for jobless claims, down from 478,000 in the previous week. Continuing jobless claims were 3.751 million, down from 3.640 million.
  • The Philadelphia Fed Manufacturing Index decreased to 31.5 from 50.2.

The Conference Board’s Leading Economic Indicators increased 1.6% in April following an increase of 1.3%.

The Treasury held auctions for four-week bills at a rate of 0.000%, eight-week bills at a rate of 0.005% and 10-year TIPS at a rate of -0.805%.

Freddie Mac released its weekly mortgage market survey. The 30-year fixed-rate mortgage averaged 3.00%, up from 2.94%. The 15-year fixed-rate mortgage averaged 2.29%, up from 2.26%.

Small-cap stocks

In small caps, the Russell 2000 closed at 2,207.76 for a gain of 14.12 points or 0.64%. The S&P 600 closed at 1,337.78 for a gain of 4.25 points or 0.32%. The Dow Jones U.S. Small-Cap Growth Index closed at 14,363.74 for a gain of 164.02 points or 1.16%. The Dow Jones U.S. Small-Cap Value Index closed at 11,288.32 for a loss of 9.03 points or -0.08%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 2,683.53 for a gain of 10.74 points or 0.40%; the S&P 100 at 1,886.16 for a gain of 21.41 points or 1.15%; the Nasdaq 100 at 13,494.09 for a gain of 256.19 points or 1.94%; the Russell 3000 at 2,479.42 for a gain of 26.53 points or 1.08%; the Russell 1000 at 2,336.71 for a gain of 25.72 points or 1.11%; the Wilshire 5000 at 43,357.91 for a gain of 464.43 points or 1.08%; and the Dow Jones U.S. Select Dividend Index at 862.02 for a gain of 1.43 points or 0.17%


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