U.S. stocks charged into the new year on Thursday, with the Dow Jones Industrial Average jumping over 300 points. The S&P 500 Index and the Nasdaq Composite Index were not far behind, with all three market indices closing at record highs. The technology sector, which had a stellar 2019, continues to increase with Apple
Here's how the stock market closed at the start of 2020:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
In U.S. Economic News, IHS Markit's final U.S. Manufacturing Purchasing Managers' Index (PMI) for December 2019 recorded slightly lower than November. Although the PMI is on the decline, the index is reading above 50, indicting growth, and is displaying a sustained improvement in the operating conditions of the sector. The firm wrote in its statement: "The latest data indicated a modest improvement in the health of the U.S. manufacturing sector. The final quarterly average of 2019 was in fact the strongest since the opening three months of the year."
In U.S. Stock Sectors, most sectors boomed today, posting growth above +1%. The sectors that saw stock share growth Thursday include Industrials +1.81%, Information Technology +1.73%, Communication Services +1.32%, Consumer Discretionary +1.29%, Financials +0.94%, Energy +0.85% and Health Care +0.19%. The few the had a decline in shares Thursday include Utilities -1.38%, Real Estate -1.32%, Materials -1.24% and Consumer Staples -0.82%.
Lastly, in Commodity and Currency News, oil prices recorded mixed gains Thursday, with West Texas Intermediate decreasing -0.10% as Brent Crude increased over +0.33%. Barrel prices still remain firmly above $60 as futures maintain their ongoing climb. Gold had a positive growth day to start the new year, with the price per ounce increasing almost +0.80%. Finally, the U.S. Dollar joined the rally Thursday, with the DXY Index paring its recent losses, increasing almost +0.30%.
