Stocks eked out a gain Thursday after some late-session turbulence, led by techs. Energy stocks rebounded from the bottom of the pack to the No. 2 behind tech. Financials ended lower.
Economic data were a mixed bag: The services sector grew for a fifth straight month but the report wasn’t a blowout. Stocks had opened higher after a pair of encouraging employment reports.
Energy and financials have swung between positive and negative territory in the past few sessions, taking the broader market with them. Both had been lower for most of the day but energy turned higher in late trading.
The Dow Jones Industrial Average ended up about five points, or less than a tenth of a percent, in the market’s first two-day gain since April.
The S&P 500 rose 0.2 percent and the Nasdaq jumped 1 percent. The CBOE volatility index was below 30 at the closing bell.
(Source: CNBC)