The industrial average of Dow Jones reached to 20.32 points or 0.11 percent to a value of 18,272.56. S&P was a gainer with 1.63 points to reach the value of 2,122.73. On the other hand, Nasdaq Composite’s value dropped 2.50 points or 0.05 percent, resulting in a value of 5,048.29.
According to the chief market strategist at Wunderlich Securities, “There’s not a lot of movement, especially considering most of the economic data we got this morning was a bit disappointing.”
The crude oil prices suffered a great blow recently and the US crude dropped 1.2 percent to $59.23. A decline of 1.8 percent has been noticed in S&P. 511 cents have been added to the stock to reach $20.37. The Brent North Sea crude for the month of June delivery, the global benchmark moved considerately by 11 cents to receive a closing at 66.81 dollars per barrel.
Reports like the Consumer Sentiment Index and Consumer Confidence Index are precisely followed because of the dependence of 70 percent of the American economy on consumers. NASDAQ went down by 0.1 percent to a value of 5,043. Paul Zemsky, the head of multi-asset strategies at Voya Investment Management, LLC stated, “All of the fears about the Fed coming sooner subsided.”
Great results were obtained from El Pollo Loco Holdings Inc. on Thursday, but the company reassured its full year guidance. It was quite low on the expectations of the analysts. A decline was witnessed in King Digital Entertainment that fell down 7.6 percent to $13.85. On the other hand, the markets of South East Asia were growing.
One of the most talked about mergers this week was Verizon’s $4.4 billion takeover of Internet pioneer AOL in order to encourage the presence of the telecom giant in online media and advertising.