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09 Apr 2021 | 01:24

US close: Tech plays among the gainers on Wall Street

(Sharecast News) - Wall Street trading finished on a positive note on Thursday, as a sharper-than-expected increase in weekly jobless claims had little impact on major indices. At the close, the Dow Jones Industrial Average was up 0.17% at 33,503.57, while the S&P 500 added 0.42% to 4,097.17 and the Nasdaq Composite gained 1.03% to 13,829.31.

The Dow Jones closed 57.31 points higher on Thursday, adding to the gains recorded on Wednesday, as investors digested minutes from the Federal Open Market Committee's latest meeting.

The FOMC meeting minutes, which outlined plans to maintain the pace of asset purchases for some time as the central bank helps to support stable prices and maximum employment, remained in focus on Thursday, as did President Joe Biden's $2.0trn infrastructure plan that includes a corporate tax rate hike to 28%.

Biden, who indicated on Wednesday that he was willing to negotiate on the proposed increase, views the hike as a key source of revenue for the White House's infrastructure plan.

However, Republicans were claiming to be concerned about tax increases as the US begins to emerge from the Covid-19 pandemic.

On the macro front, initial jobless claims rose more than expected in the week ended 3 March despite signs of healing elsewhere in the jobs market.

According to the Labor Department, first-time claims came to 744,000, well above expectations for a print of 694,000 and an increase of 16,000 on the prior week's upwardly revised reading of 728,000.

While the four-week moving average also edged higher, hitting 723,750 last week, continuing claims did provide some positive news, with the weekly total dropping by 16,000 to 3.73m - the lowest level for continuing claims since 21 March 2020.

In the corporate space, tech plays were in the green, with Amazon up 0.61%, Apple ahead 1.92%, Netflix 1.39% firmer, and Google owner Alphabet 0.7% higher.

Reopening plays, meanwhile, were below the waterline, with Royal Caribbean Cruises down 1.37%, Delta Air Lines descending 0.78%, and American Airlines 1.17% lower.

Dow Jones - Risers

Apple Inc. (AAPL) $130.36 1.92% Salesforce.Com Inc. (CRM) $224.45 1.66% Goldman Sachs Group Inc. (GS) $331.14 1.41% Microsoft Corp. (MSFT) $253.25 1.34% Intel Corp. (INTC) $67.05 1.21% Boeing Co. (BA) $254.95 0.94% Visa Inc. (V) $220.70 0.65% Home Depot Inc. (HD) $314.43 0.63% Honeywell International Inc. (HON) $219.86 0.62% 3M Co. (MMM) $195.72 0.39%

Dow Jones - Fallers

Verizon Communications Inc. (VZ) $57.60 -2.37% Nike Inc. (NKE) $133.68 -2.09% Walgreens Boots Alliance, Inc. (WBA) $54.79 -1.42% Travelers Company Inc. (TRV) $150.36 -1.27% Dow Chemical Co. (DOW) $63.19 -1.25% Chevron Corp. (CVX) $103.02 -1.12% McDonald's Corp. (MCD) $230.25 -1.01% Merck & Co. Inc. (MRK) $75.49 -0.83% Amgen Inc. (AMGN) $246.88 -0.50% Johnson & Johnson (JNJ) $162.97 -0.39%

S&P 500 - Risers

Ipg Photonics Corp. (IPGP) $231.17 5.11% Align Technology Inc. (ALGN) $575.75 4.20% Paypal Holdings Inc (PYPL) $264.50 3.48% Ross Stores Inc. (ROST) $127.45 3.27% Twitter Inc (TWTR) $71.22 3.23% Abiomed Inc. (ABMD) $329.75 2.85% Waters Corp. (WAT) $304.13 2.63% Intuit Inc. (INTU) $411.32 2.56% MGM Resorts International (MGM) $42.14 2.56% Autodesk Inc. (ADSK) $293.43 2.55%

S&P 500 - Fallers

Constellation Brands Inc. Class A (STZ) $224.21 -4.57% CenturyLink Inc. (LUMN) $12.91 -4.23% Discovery Inc. Class A (DISCA) $41.88 -3.48% Cabot Oil & Gas Corp. (COG) $17.85 -3.41% Baker Hughes Company Class A (BKR) $20.71 -3.36% Discovery Inc. Class C (DISCK) $35.78 -3.30% Apartment Investment & Management Co. (AIV) $6.22 -3.12% AT&T Inc. (T) $30.00 -3.01% Mattel Inc. (MAT) $19.99 -2.82% HollyFrontier Corp (HFC) $35.85 -2.71%

Nasdaq 100 - Risers

Align Technology Inc. (ALGN) $575.75 4.20% Paypal Holdings Inc (PYPL) $264.50 3.48% Ross Stores Inc. (ROST) $127.45 3.27% Mercadolibre Inc. (MELI) $1,588.00 2.98% Intuit Inc. (INTU) $411.32 2.56% Autodesk Inc. (ADSK) $293.43 2.55% Baidu Inc. (BIDU) $226.77 2.15% Asml Holdings N.V. (ASML) $639.88 2.13% Idexx Laboratories Inc. (IDXX) $499.66 2.12% Cadence Design Systems Inc. (CDNS) $145.46 2.03%

Nasdaq 100 - Fallers

Walgreens Boots Alliance, Inc. (WBA) $54.79 -1.42% Cintas Corp. (CTAS) $345.72 -1.31% American Airlines Group (AAL) $23.65 -1.17% Vertex Pharmaceuticals Inc. (VRTX) $210.28 -1.15% Regeneron Pharmaceuticals Inc. (REGN) $476.36 -1.13% Hasbro Inc (HAS) $96.21 -1.01% J.B. Hunt Transport Services Inc. (JBHT) $167.61 -1.00% Gilead Sciences Inc. (GILD) $65.02 -0.88% O'Reilly Automotive Inc. (ORLY) $508.22 -0.86% Biogen Inc (BIIB) $265.73 -0.85%
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