Stocks are up today and investors wondering why can check out our breakdown of Thursday’s market news.
A few factors are affecting the stock market and have shares up today. That includes several companies releasing earnings reports recently. Most of the sentiment surrounding these reports has been positive and is helping boost the market higher on Thursday.
To go along with that, gross domestic product (GDP) data shows that the economy is still growing. Another highlight of the day is inflation coming in at 2.7%, as compared to 5.9% from the same period of the year prior.
UBS Senior Economist Brian Rose said the following about the latest inflation data to The New York Times:
“Looking back at last year, the combination of growth and inflation that we had was not considered in the realm of possibility by most people. To have such strong growth, low unemployment and to have inflation coming down that quickly, even the optimists weren’t that optimistic.”
With all of that said, let’s check out how the major stock indices are performing today below!
Stocks Up Today: Major Indices Rise
- The S&P 500 starts us off with a 0.42% gain on Thursday morning.
- Next is the Dow Jones Industrial Average and its 0.16% increase this morning.
- Closing out our coverage is the Nasdaq Composite with a 0.56% rally today.
There are still plenty of other stock market stories that traders will want to read about on Thursday!
Fortunately, we have all of that ready to go with our coverage of the stock market today! Among that is what’s happening with ServiceNow (NYSE:NOW), Tesla (NASDAQ:TSLA) and electric vehicle (EV) stocks on Thursday. All of that news is available at the following links!
More Thursday Stock Market New
- Wall Street Is Pounding the Table on ServiceNow (NOW) Stock
- TSLA Stock Alert: Elon Musk Just Issued a BIG Warning
- Why Are EV Stocks Down Today?
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
