S&P Rises After Wednesday Drubbing By Investing.com

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© Reuters.

Investing.com – Stocks were mostly higher Thursday a day after recession fears caused one of the year’s worst selloffs.

Better-than-expected earnings from Walmart (NYSE:) and a decent gain for Boeing (NYSE:) helped improve traders’ moods.

The rose 0.29%. The added 0.39%. But the suffered a small loss, mostly because of weakness in Cisco Systems (NASDAQ:), Netflix (NASDAQ:), Apple (NASDAQ:) and Microsoft (NASDAQ:).

The market’s performance was hardly an all-clear signal for the major averages.

The Dow gained about 100 points, but that was just 12% of the 800-point loss the index suffered on Wednesday, its worst one-day loss on the year and worst since Oct. 10, 2018. But 95 points of the gain were due to Boeing (NYSE:) and Walmart (NYSE:) alone.

In addition, about half of the stocks in the Index were lower with Cisco (NASDAQ:) the worst performer with an 8.6% loss after guidance in Wednesday’s earnings report disappointed investors.

With Thursday’s close, the S&P 500 is off 5.9% from its late-July peak but still up 13.6% for the year. The Dow is down 6.6% from the July high and ahead 9.7% in 2019, while the Nasdaq’s decline from its peak stood at 6.9%. It ended the day up 17% for all of 2019.

Oil prices were lower with crude falling 76 cents to $54.47 a barrel. oil futures were off $1.41 to $58.07. continued to climb, with the December contract settling at $1,531.10 an ounce. is up 6.5% this month and 19% on the year.

The widened slightly, although interest rates continued to fall. The yield was 1.51%. The yield was 1.484%.

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