Market Overview

Nasdaq Leads Stock Market Higher

The U.S. stock market moved higher throughout Thursday's trading session, with the biggest gains coming in the Nasdaq. The Dow Jones Industrial Average added a little less than 37 points to close at 13,022. The widely watched blue-chip index traded in a range between 12,961 and 13,062. The gains came despite reports that no progress has been made on the fiscal cliff negotiations.

The SPDR S&P 500 ETF (NYSE: SPY) rose 0.47 percent to close at $142.12. Volume was a little heavier than normal with 144.6 million SPY shares trading hands compared to a 3-month daily average of 131.8 million.

The PowerShares QQQ Trust ETF (NASDAQ: QQQ), which tracks the performance of the Nasdaq 100, climbed 0.60 percent to $65.91. The QQQ was helped by a better than 1 percent gain in Apple (NASDAQ: AAPL) shares.

Crude oil bounced back from recent losses on Thursday. NYMEX crude futures, the U.S. benchmark, were last trading up 1.53 percent to $87.81. Brent crude contracts added 0.90 percent to $110.50. In ETF trading, the United States Oil Fund ETF (NYSE: USO) added 1.20 percent to $32.17.

Gold and silver also rose along with stocks. COMEX gold futures were last trading up 0.52 percent to $1,727.80 in the electronic session. Silver futures added 1.67 percent to $34.34. The heavily traded SPDR Gold Trust ETF (NYSE: GLD) rose 0.41 percent to $167.23.

Treasury prices were largely flat on the day. The iShares Barclays 20+ Year Treasury Bond ETF (NYSE: TLT) closed the session up 0.02 percent to $125.13. The yield on the 10-Year Note fell by one basis point to 1.62 percent.

A lower U.S. dollar helped the stock market on the session. The PowerShares DB US Dollar Index Bullish ETF (NYSE: UUP), which tracks the performance of the greenback versus a basket of foreign currencies, fell 0.14 percent to $21.94. The closely watched EUR/USD pair was last trading at $1.2972, a gain of 0.15 percent.

Posted-In: Bonds Broad U.S. Equity ETFs Specialty ETFs Futures Commodities Currency ETFs Forex Intraday Update Best of Benzinga

 

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