Stocks finished higher Thursday, as investors digested global central bank updates and earnings reports. The Dow added 137 points, while the S&P 500 gained 0.5%, pushing above the 3,200 point level for the first time. The Nasdaq Composite advanced 0.7% to a fresh record high.
In central bank news, Sweden’s Riksbank announced its policy decision to raise its key rate to 0.00% following five years in negative territory. Elsewhere, BOE members conveyed a focus on the next phase of Brexit negotiations, reiterating that more accommodative policy may be necessary if uncertainty increases or if the global economy shows signs of slowing. U.S. markets are shrugging off the House’s impeachment of President Trump, since analysts widely expect the Senate to acquit the President. Trade is also in focus with a Reuters report revealing Washington and Beijing are remaining in close contact over the preliminary trade deal.
Nine of 11 S&P 500 sectors finished in positive territory with Real Estate and Communication Services stocks pacing gains. In earnings, Micron Technology added 2.8% after beating Wall Street’s estimates. Conagra rallied 15.9% after exceeding expectations on both the top and bottom line. Match Group jumped more than 8% after the dating website agreed to spin off its media counterpart InterActiveCorp.
On the data front, an update showed the leading economic index was flat in November after dipping 0.2% in October. Separately, existing home sales ticked down 1.7% in November after rising 1.5% in the previous month. Treasuries strengthened, with the yield on the 10-year note down one basis point to 1.91%.