Stocks finished higher Thursday. The Dow added 110 points to 26,559, while the S&P 500 climbed 4 points to 2,905. The Nasdaq Composite advanced a point to 7,998.
The major averages posted modest gains as investors digested the latest economic updates and earnings reports. On the data front, retail sales rebounded 1.6% in March, the largest monthly increase since September 2017. An additional update revealed initial jobless claims came in at 192,000 in the prior week, the lowest level since 1969. Separate readings from Markit showed manufacturing activity expanded at the same pace in April as March, while service sector activity increased at the slowest rate in 31 months.
Seven of 11 S&P 500 sectors finished in positive territory with Industrials the best performing group. Shares of Honeywell climbed 3.8% to $169.06 while Union Pacific added 4.4% to $176.66 after both companies topped earnings estimates. Health Care was slightly higher but still suffered through their worst weekly decline since 2002. In other earnings news, shares of American Express advanced 1.7% to $113.67 after the credit card provider bested Wall Street profit estimates.
Breadth was roughly even on issues on the NYSE and slightly negative on the Nasdaq. Composite NYSE volume totaled more than 3.4 billion shares.
Treasuries were stronger, with the yield on the 10-year note down three basis points to 2.56%. In commodities, WTI crude climbed 0.4% to $64.01/barrel. COMEX gold was essentially unchanged at $1,271.90/ounce.
For the week the Dow and Nasdaq advanced 0.6% and 0.2% respectively while the S&P 500 slipped 0.2%.