Stocks Mostly Higher as Small Caps Lead and Tech Lags

U.S. stocks finished mostly higher on Thursday, Oct. 15, with gains concentrated outside the technology sector. The SPDR S&P 500 ETF (SPY) rose 0.28% to 771.79, the Dow-tracking DIA gained 1.08% to 521.18 and the small-cap IWM added 1.37% to 275.08. The Nasdaq-100-tracking QQQ was the exception, edging down 0.13% to 728.00.

Sector participation was broad. Eight of the eleven Select Sector SPDR ETFs closed higher. Health care (XLV) led with a 1.86% gain to 177.19, followed by materials (XLB, +1.79%), consumer discretionary (XLY, +1.71%), communication services (XLC, +1.46%) and financials (XLF, +1.38%). Real estate (XLRE) rose 1.21%, consumer staples (XLP) 0.72% and industrials (XLI) 0.51%.

Three sectors declined. Energy (XLE) was the weakest group, falling 1.58% to 66.56, while technology (XLK) slipped 0.65% to 189.19 and utilities (XLU) eased 0.17%.

Among U.S.-listed companies with a market value of at least $10 billion, software and services names filled the top of the gainers list. INTU rose 6.36% to 330.17, NOW climbed 6.14% to 148.57, ACN added 4.63% to 224.92, CRM gained 4.57% to 246.74 and ADBE rose 4.57% to 251.67.

On the downside, CSCO fell 3.33% to 109.85, the largest decline in the large-cap group, followed by PM at 199.90 (-2.76%), NVDA at 217.23 (-1.84%), CAT at 735.64 (-1.78%) and AMD at 562.23 (-1.50%). A Barron's market wrap published after the close carried the headline "Review & Preview: Bounce Back."

Data

Data: FMP, FRED. Figures are close-to-close unless stated.

In the news

• Barron's: Review & Preview: Bounce Back