Trading in the year’s first month marks a sharp reversal from December, which was the worst month since 1931
Stocks finished broadly higher on Thursday, steering the benchmark S&P 500 toward its best one-month gain since 2015 and its best January since 1987.
The S&P 500 index rose 23 points, or 0.9 percent, to close at 2,704. For the month, the broad market benchmark rose 7.9 percent.
Today’s increase followed Wednesday’s jump of 1.55 percent for S&P 500 after the Federal Reserve signaled that it’s pausing its rate-hike strategy for now. That «put the S&P 500 on track to post its 9th best January on record since 1928,» according to Jodie Gunzberg, head of U. S. equities at S&P Dow Jones Indices. Thursday’s increase sealed that historic move.
The Dow Jones industrials ticked lower by 15 points, or 0.1 percent, to end at 24,999. The Dow gained 7.2 percent for the month, giving the blue-chip index its best January since 1989.
The Nasdaq composite climbed 99 points, or 1.4 percent, finishing at 7,282.
Gains in communications and health care companies offset losses in banks and materials stocks.
Investors remained focused on corporate earnings, which have been mixed. Facebook jumped after reporting solid results for its fourth quarter, helping lift the tech-heavy Nasdaq composite. General Electric soared after reporting growth in key segments, while Microsoft and Visa fell. Homebuilders surged following new data showing sales of new U.
