- U.S. stock indexes experienced a mixed close with the S&P 500 index falling 0.2% on Thursday, marking its fifth consecutive loss – the longest streak since October.
- The Dow Jones Industrial Average, however, saw a slight increase of 0.1%, while the Nasdaq composite slipped by 0.5% amidst a varied set of profit reports from major companies.
- Despite this, the economy remains stronger than expected with low layoffs and unexpected growth in the mid-Atlantic region’s manufacturing index.
U.S. stock indexes show mixed results amidst stronger-than-expected economic data, with the S&P 500 experiencing its longest losing streak since October.
U.S. Stock Indexes Show Mixed Results
The U.S. stock indexes closed mixed on Thursday, with the S&P 500 index falling 0.2%, marking its fifth consecutive loss. This is the longest such streak the index has experienced since October. On the other hand, the Dow Jones Industrial Average saw a slight increase of 0.1%, while the Nasdaq composite slipped by 0.5% amidst a varied set of profit reports from major companies.
Stronger-than-expected Economic Data
Despite the mixed results in the stock market, the economy remains stronger than expected. The number of layoffs across the country is remaining relatively low, and an index of manufacturing in the mid-Atlantic region showed growth that exceeded expectations. Treasury yields rose following the release of this stronger-than-expected economic data.
Weekly and Yearly Performance of Major Indexes
For the week, the S&P 500 is down 112.29 points, or 2.2%. The Dow is down 207.86 points, or 0.5%. The Nasdaq is down 573.59 points, or 3.5%. The Russell 2000 is down 60.22 points, or 3%. For the year, the S&P 500 is up 241.29 points, or 5.1%. The Dow is up 85.84 points, or 0.2%. The Nasdaq is up 590.15 points, or 3.9%. The Russell 2000 is down 84.12 points, or 4.1%.
Conclusion
In conclusion, while the U.S. stock indexes have shown mixed results, the overall economy remains robust with lower-than-expected layoffs and unexpected growth in the manufacturing sector. Despite the S&P 500’s longest losing streak since October, the Dow Jones Industrial Average and Nasdaq have shown resilience. The performance of these indexes will continue to be influenced by economic data and corporate earnings reports in the coming weeks.
