- US stocks rose Thursday, with the Dow Jones notching its biggest gain in a month.
- Investors cheered more signs of consumer strength and Arm's blowout IPO.
US stocks rose on Thursday, with the Dow Jones surging 374 points, its largest gain in a month.
Strong sentiment was driven by a better-than-expected retail sales report. August retail sales saw a 0.6% increase, above expectations of a 0.1% climb. When excluding autos, sales rose 0.6%, against a 0.4% outlook.
Investors were also encouraged by the $4, which wrapped the biggest IPO since 2021, securing a valuation of $54 billion. The shares closed 24% higher, ending the day at $63.59, well above the IPO price of $51.
Producer price index data for August was also released on Thursday. It showed prices grew by 0.7% in August, topping estimates of a 0.4% rise. The Federal Reserve will meet next week to decide its next monetary policy move, with markets pricing in strong odds the central banks holds steady before potentially raising interest rates again in November.
Here's where US indexes stood at the 4:00 p.m. closing bell on Thursday:
- S&P 500>$4: 4,505.10, up 0.84%
- Dow Jones Industrial Average>$4: 34,907.11, up 0.96% (+331.58 points)
- $4: 13,926.05, up 0.81%
Here's what else is going on today:
- Ray Dalio says bonds are $4, citing growing US debt concerns.
- US crude oil $4 for the first time in 10 months.
- The $4 is finally showing signs of easing.
- Robert Kiyosaki said $4, though data shows a healthy rental market..
In commodities, bonds, and crypto: