Close Update: Stocks End Stronger, With Dow Positive for 2016

Stocks ended the session higher on Thursday, with the Dow Jones Industrial Average recouping year-to-date losses by moving into a slim gain of 0.3% for 2016. The S&P 500 closed at the highest since Dec. 31 and the Nasdaq was at its strongest since Jan. 6.

Oil prices firmed, with US benchmark futures rallying to just above $40 a barrel. Apart from health care, all of the S&P 500 index's 10 industry sectors posted gains in the day after the decision by the Federal Open Markets Committee to hold the target range on its fed funds interest rate. Materials led the moves higher, with industrials and the energy sector close behind.

Of the Dow's 30 components, all but seven rose by the closing bell. Top gainers included General Electric ( GE ), Nike ( NKE ) and Boeing ( BA ).

Adding to sentiment was economic data, with the Philly Fed manufacturing index jumping to the highest reading since February 2015. Initial jobless claims rose to 265,000, beating estimates for 270,000.

Here's where the markets stood at the close:


Dow Jones Industrial Index was up 155.73 points (+0.9%)

S&P 500 was up 13.37 points (+0.66%)

Nasdaq Composite Index was up 11.02 points (+0.23%)


FTSE 100 was up 0.42%

Nikkei 225 was down 0.22%

Hang Seng Index was up 1.21%

Shanghai China Composite Index was up 1.2%


(+) VTAE (+65.21%) Reported top-line results for Phase 2a clinical trial of VTP-43742

(+) RSTI (+37.01%) Coherent ( COHR ) offered to acquire Rofin-Sinar for approximately $942 million

(+) MIK (+12.83%) Reported Q4 results that beat the Street view on earnings per share and total revenues.

(+) PBR (+9.75%) Cuts 15% of workforce in voluntary layoff


(-) SXE (-35.5%) Parent company might file for Chapter 11 bankruptcy

(-) ORPN (-27.46%) Priced $6.7 million registered direct offering for $3.10 per share

(-) SALT (-19.84%) Priced an underwritten public offering of 21 million shares at $3.00 per share

(-) ENDP (-11.44%) Provided Q1 guidance that was well below analysts estimates.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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