US Stocks Close Higher on Thursday: Dow Gains 556.80 Points to a One-Month Closing High as Chip Stocks Fall a Seventh Day and the Nasdaq Edges Up 0.08%
New York — U.S. stocks closed higher on Thursday, October 15, after recovering from early losses. The Dow Jones Industrial Average rose 556.80 points, or 1.08%, to 52,178.28, its highest close in a month, led by Nike, Salesforce and Home Depot, according to The Wall Street Journal. The S&P 500 gained 25.17 points, or 0.33%, to 7,744.11, and the Nasdaq Composite added 20.16 points, or 0.08%, to 26,713.03 after falling to its lowest intraday level in almost a month.
By sector, eight of the S&P 500's eleven sectors rose and three fell: healthcare gained about 2%, technology slipped 0.5% and energy fell 1.5%. Chip stocks declined for a seventh straight session, their longest losing streak in four years, according to Reuters. Data-center builder CoreWeave rebounded 6.5% and Nike rose 5%, while Hewlett Packard Enterprise and Dell each fell about 7%. Asian markets had fallen harder earlier in the day: South Korea's KOSPI dropped 7.5% to a six-month low and Japan's Nikkei fell about 5%, while Britain's FTSE 100 rose 1% to a seven-week high.
In bonds, haven buying lifted Treasuries: the yield on the 10-year note fell 0.102 percentage point to 5.086%, its largest one-day retreat in more than a year; the 30-year yield slipped to 5.427% and the two-year yield to 4.747%, according to Dow Jones Market Data cited by the Journal. The dollar posted its biggest fall in six weeks, with the Swiss franc up about 1% as the strongest major currency. Gold futures rose $62.90, or 1.5%, to $4,147.70 a troy ounce, and U.S. crude futures rose $2.88, or 3%, to $97.97 a barrel. The Energy Information Administration reported that U.S. commercial crude inventories fell by 8.557 million barrels last week, against expectations of a small build, while distillate stocks fell 2.5 million barrels to 102.6 million barrels, 12% below the five-year average.
On the data front, the Labor Department reported producer prices up 1.3% in September, above forecasts, and weekly initial jobless claims came in at 199,000, slightly below expectations. Traders put the probability of a Federal Reserve rate increase at its meeting in two weeks at about 29%, according to the CME FedWatch tool as cited by Investopedia. Bill Adams, chief U.S. economist at Fifth Third Commercial Bank, said neither the CPI nor the PPI shows inflation moving back toward the Fed's target, and that the retail sales report was not soft enough to shift the Fed's focus away from inflation.
Published by GSM · USA (original Chinese edition)
Photo: 图：纽约证券交易所大楼立面。图片来源：Another Believer，Wikimedia Commons，CC BY-SA 4.0。Photo: New York Stock Exchange building facade. Image: Another Believer, via Wikimedia Commons, CC BY-SA 4.0.
