Stock Market Watch

Stocks Rebound Sharply in Late Trading; Finish Near Session Highs

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Stocks rebounded sharply in late trading on Thursday, with all three major indexes finishing the day near session highs. Stocks rallied even as investors wait for all-important nonfarm payrolls data, which is scheduled to be released on Friday.

The Dow Jones ended the day 0.53% higher at 15,040.62, the S&P 500 ended the day 0.85% higher at 1,622.56, and the Nasdaq ended the day 0.66% higher at 3,424.05.

All sectors in the S&P 500 ended the day in green. Healthcare sector led the gains, ending the day 1.31% higher. Telecommunications Services sector ended the day 1.25% higher. Utilities ended the day 1.06% higher. Energy sector rose 0.74% higher, while Basic Materials sector rose 0.83%.

Among the major movers on Thursday were Ciena Corporation (NASDAQ: CIEN), which ended the day 17.41% higher at $19.15, ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD), which ended the day 12.64% higher at $16.57, CONN’s Inc. (NASDAQ: CONN), which ended the day 11.35% higher at $53.96, JDS Uniphase Corp. (NASDAQ: JDSU), which ended the day 8.30% higher at $14.22, and Verizon Communications Inc. (NYSE: VZ), which ended the day 3.46% higher at $49.97.

On the economic front, a report released by the Labor Department showed that initial jobless claims fell 11,000 to a seasonally adjusted 346,000 last week.

European markets ended mostly lower on Thursday, with the FTSE 100 Index in London closing 1.30% lower, and the CAC 40 Index in Paris closing 0.99% lower. Asian markets also ended mostly lower overnight, with the Nikkei 225 Index in Japan closing 0.85% lower, and the Hang Seng Index in Hong Kong closing 1.05% lower.

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edliston
Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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