Stocks finished higher Thursday. The Dow added 208 points to 25,289 while the S&P 500 climbed 28 points higher to 2,730. The Nasdaq Composite advanced 122 points to 7,259.
The S&P 500 snapped a five session losing streak as strong corporate earnings and a rebound in Tech stocks overcame uncertainty from overseas. In geopolitics, several U.K. cabinet officials announced their resignations overnight, causing further questions on future Brexit plans. On the data front, a report showed retail sales spiked 0.8% in October, the largest increase in five months. Separately, initial jobless claims came in at 216,000 in the most recent week.
The Technology sector jumped 2.4% as Apple rebounded 2.5% to $191.41. Cisco Systems also boosted the group, finishing the session up 5.5% to $46.77 after the company bested quarterly profit estimates. Meanwhile, Walmart lagged the broader market advance as the company’s shares slipped 2.0% to $99.54. The world’s largest retailer’s positive quarterly report was offset by news that Warren Buffett dissolved his equity stake. Homebuilders also struggled as KB Homes tumbled 15.3% to $17.61 after it cut its current quarter guidance. The Utility sector also underperformed as PG&E retreated 30.7% to $17.74 amid continued uncertainty surrounding its role in the California wild-fires.
Breadth was positive on issues by 3:2 on the NYSE and 2:1 on the Nasdaq. Composite NYSE volume totaled more than 3.4 billion shares.
Treasuries were little changed as the yield on the benchmark 10-year note declined one basis point to 3.11%. In commodities, WTI crude advanced 0.4% to $56.49/barrel. COMEX gold added 0.3% to $1,213.60/ounce.