Markets

Closing Update: U.S. Markets End Higher, Carried by Jobs Growth at Home, Accommodative Policies Abroad

Stocks ended higher Thursday, with the Dow Jones Industrial Average and the S&P 500 both closing at new record highs while the Nasdaq Composite Index overcome early sluggishness to also finish with a small gain. Nine of the 10 industry sectors rose today, led by energy stocks as the sector continued to rebound for steep declines earlier in the week. Utilities languished Thursday as investors largely resisted defensive plays.

Today's advance was supported by European Central Bank President Mario Draghi pledging to maintain a highly accommodative monetary policy, saying he was ready to increase the central bank's balance sheet in a "sizeable way." First-time jobless claims also declined more than expected, falling to the second-lowest level in 35 years and ginning up optimism tomorrow's payroll report for October also will exceed expectations.

Here's where U.S. stocks stood at the end-of-day:

Dow Jones Industrial Average up 69.94 (+0.40%) to 17,554.47

S&P 500 up 7.64 (+0.38%) to 2,031.21

Nasdaq Composite Index up 17.75 (+0.38%) to 4,638.47

GLOBAL SENTIMENT

Hang Seng Index down 0.20%

Shanghai China Composite Index up 0.27%

FTSE 100 Index up 0.18%

UPSIDE MOVERS

(+) PLNR, Raised to Buy at Needham & Co. after fiscal Q4 non-GAAP earnings of $0.14 beat Street view by $0.05. Revenue rises 17% to 53.6 mln, topping consensus by $5 mln. Q1 revenue guidance tops estimates by at least $10.5 mln.

(+) KATE, Reports Q3 income from continuing operations of $3 mln, or $0.02 per share, reversing a $14 mln net loss last year. Non-GAAP net loss narrows to $9.1 mln, or $0.14 per share, from $16.9 mln net loss during same quarter last year.

(+) NVRO, Medical device company enjoys big first-day pop after pricing initial public offering of 8.05 million shares at $18 apiece, generating $144.9 million in gross proceeds.

DOWNSIDE MOVERS

(-) AEZS, FDA determines the company's New Drug Application for its macimorelin investigational medicine cannot be approved in its present form because the drug did not meet its primary efficacy objective in clinical testing.

(-) QCOM, Facing anti-trust probes in the U.S. and Europe, warning they may negatively impact royalties it receive on phones using its patents. Non-GAAP Q4 net income rises 18% year over year to $2.14 bln, or $1.26 per share.

(-) FNMA, Net income fall 55% from year-ago levels to $3.9 bln. Net revenue, consisting of net interest income, fees and other income, reached $6.0 bln.

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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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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