- The Dow Jones Industrial Average, DJIA, added 121 points, or 0.5%, at around 24,000.
- The S&P 500 added 11.68 points, or 0.5%, to 2,596.64.
- The Nasdaq Composite Index added 28.99 points, or 0.4%, to 6,986.07.
Wall Street benchmarks ended higher again on Thursday, adding to the consecutive daily gains as investors continue to be optimistic over prospects for a Sino/US solution to the trade dispute while also riding the sentiment surrounding the Fed.
DJIA and S&P 500 registered their fifth straight gain as investors cheered the optimism over the US economy from Fed's Powell when he was speaking at the Economic Club of Washington D.C. today while also stressing that the central bank can be patient and flexible on monetary policy. The top performers in the Dow were Boeing Co, +8.87 points or adding 2.55%, ahead of Caterpillar Inc that added 2.69 points or 2.06% and Travelers Cos Inc that added 1.59 points or 1.34%. The worst three were Pfizer Inc that dropped 1.03 points of 2.38%, Merck & Co.Inc. -0.93 or -1.23% and Microsoft Corp that lost 0.67 or 0.64%.
DJIA levels
The DJIA has now climbed 10.1% from its Dec. 24 low and needed to finish at or above 23,971.42 to emerge from its correction by that measure. Technically, the bulls are back in the game, dusting off the warnings from the prior daily bearish close marked by the upper shadow on the candlestick and have battled the bears off for a bullish close on Thursday above the pivot. The 50% retracement Fibo of Dec's decline at 23765 is now back in the bull's sights with a close above the last swing low printed on the 9th Dec. Both daily MACD and RSI continue to drift higher.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD posts gain, yet dive below 0.6500 amid Aussie CPI, ahead of US GDP
The Aussie Dollar finished Wednesday’s session with decent gains of 0.15% against the US Dollar, yet it retreated from weekly highs of 0.6529, which it hit after a hotter-than-expected inflation report. As the Asian session begins, the AUD/USD trades around 0.6495.
USD/JPY finds its highest bids since 1990, approaches 156.00
USD/JPY broke into its highest chart territory since June of 1990 on Wednesday, peaking near 155.40 for the first time in 34 years as the Japanese Yen continues to tumble across the broad FX market.
Gold stays firm amid higher US yields as traders await US GDP data
Gold recovers from recent losses, buoyed by market interest despite a stronger US Dollar and higher US Treasury yields. De-escalation of Middle East tensions contributed to increased market stability, denting the appetite for Gold buying.
Ethereum suffers slight pullback, Hong Kong spot ETH ETFs to begin trading on April 30
Ethereum suffered a brief decline on Wednesday afternoon despite increased accumulation from whales. This follows Ethereum restaking protocol Renzo restaked ETH crashing from its 1:1 peg with ETH and increased activities surrounding spot Ethereum ETFs.
Dow Jones Industrial Average hesitates on Wednesday as markets wait for key US data
The DJIA stumbled on Wednesday, falling from recent highs near 38,550.00 as investors ease off of Tuesday’s risk appetite. The index recovered as US data continues to vex financial markets that remain overwhelmingly focused on rate cuts from the US Fed.