U.S. stocks returned to their winning ways on Thursday. At the closing bell, the Dow Jones Industrial Average gained 0.4%, the S&P 500 moved 0.8% higher and the Nasdaq Composite added 1.25%. Utilities, technology and telecom names led the way higher on the session, while materials lagged. Elsewhere, the CBOE S&P 500 Volatility Index fell 8%, to 12.12.
Two initial public offerings were the big winners on Thursday. Biotech name ProNAi Therapeutics (DNAI) gained 82% in its first day of trading. Retailer Ollie's Bargain Outlet (OLLI) moved 32% higher on the session. Elsewhere, Netflix (NFLX) gained 18% on a higher earnings outlook. Teco Energy (TE) also moved 15% higher, on word the Florida-based utility is exploring strategic alternatives.
In after-hours action, Allscripts Healthcare (MDRX) has gained 10%, after pre-announcing better quarterly results. Google (GOOGL) is also trading 8% higher, after posting better-than-expected quarterly results.
Looking ahead to Friday morning, General Electric (GE) and Honeywell (HON) headline the earnings calendar. On the economic front, we'll get a look at housing starts, building permits and consumer prices, before the opening bell.
David Peltier is the portfolio manager for Stocks Under $10 and Dividend Stock Advisor. Test drive with a free trial.
