Some disappointing US economic data didn’t stop the buying on Thursday.
A jump in initial jobless claims and slightly firmer-than-expected inflation were easy hurdles for bulls, who sent the overwhelming majority of the S&P 500 upwards on Thursday.
The benchmark US stock index ended up 0.9%, the Nasdaq 100 rose 0.6%, and the Russell 2000 outperformed with a 1.8% gain.
The number of advancers in the S&P 500 outnumbered decliners by 372, the most positive tilt since May 27.
Six S&P 500 sector ETFs rose more than 1%, with materials leading the way higher. Energy was the lone sector ETF in the red, and just barely at that.
Gains on the day were led by Warner Bros. Discovery, which soared almost 29% after the Wall Street Journal reported that Paramount Skydance was preparing an all-cash takeover bid for the media juggernaut. Declines were led by Oracle, which fell 6.3%, not a huge deal given the stock had a massive run on Wednesday after the cloud giant unveiled its massive multi-year sales pipeline. Elsewhere...
Opendoor Technologies spiked nearly 79% after the online real estate company announced that co-founders Keith Rabois and Eric Wu were being added to its board of directors, with Shopify COO Kaz Nejatian joining to be its new CEO.
Tempus AI rose 13.7% after the diagnostics company announced FDA clearance for a new AI-enabled tool to analyze cardiac imagery from MRIs.
Micron jumped 7.5% after Citi boosted its price target to $175 from $150.
Centene soared 9.1% after the health insurer reaffirmed its full-year earnings guidance ahead of the Deutsche Bank 2025 Healthcare Summit this week and offered positive commentary on Medicare enrollee trends.
Shares of Jeep and Dodge maker Stellantis climbed 9.5% after new CEO Antonio Filosa gave upbeat comments at a European auto conference.
Duolingo rose 8.2% after an analyst note painted a more optimistic picture of the gamified language learning company, despite a lack of fresh news.
Hims & Hers gained 8.3% after the telehealth company announced that it had expanded into testosterone treatments on Wednesday.
Delta Air Lines dipped 1.6% even after the airline boosted its third-quarter sales forecast.
