The S&P 500 Index ($SPX) (SPY) Thursday closed down -0.02%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.20%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.07%.
Stock indexes on Thursday settled little changed. Stock indexes Thursday morning initially moved higher, with the S&P 500 and Nasdaq 100 posting new record highs and the Dow Jones Industrials posting a 1-week high. Thursday’s US economic news was Fed-friendly and supportive for stocks after weekly initial unemployment claims rose more than expected, and Q1 nonfarm productivity was stronger than expected. Also, Q1 unit labor costs were unexpectedly revised lower. However, stock gains were limited after the US trade deficit in April widened by the most in 1-1/2 years, a negative factor for GDP.
