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 May 18, 2017 - 12:10 PM EDT
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Stocks Rise from Ashes

Stocks Rise from Ashes

U.S. stocks traded higher on Thursday as investors assessed the future of Donald Trump's presidency and his chances of moving forward with his pro-growth agenda.

The Dow Jones Industrials Average poked ahead 19.24 points to 20,626.17, with Goldman Sachs contributing the most gains.

The S&P 500 stayed above water 4.19 points to 2,361.22, with telecommunications advancing 1.25 percent to lead advancers.

The NASDAQ hung onto gains of 23.1 points to 6,034.34.

Among companies reporting earnings Thursday are Gap Inc., Hibbett Sports and Perry Ellis.

U.S. equities suffered their worst day of the year Wednesday, with the Dow dropping 372 points, on the back of news that former FBI Director James Comey put together a memo outlining a conversation in which Trump allegedly asked him to halt an investigation into former National Security adviser Michael Flynn.

In economic news, weekly jobless claims totaled 232,000, below the expected 240,000. Meanwhile, the Philadelphia Federal Reserve business index rose to 38.8 in May from 22.0 in April.

Prices for the benchmark 10-year Treasury note were unchanged, keeping yields at Wednesday's 2.22%.

Oil prices recouped 26 cents at $49.33 U.S. a barrel

Gold prices gave back $4.50 at $1,254.20 U.S. an ounce.


Source: Livemoney US Market Commentary (May 18, 2017 - 12:10 PM EDT)

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