How major US stock indexes fared Thursday, 1/25/2024

U.S. stocks closed higher following signals that the economy is growing more powerfully than economists expected

U.S. stocks closed higher following signals that the economy is growing more powerfully than economists expected.

The S&P 500 rose 0.5% Thursday, setting another record high. The Dow Jones Industrial Average rose 0.6%, and the Nasdaq composite edged up 0.2%.

IBM helped lead the market’s gains after reporting a stronger profit than expected. That helped offset a sharp drop for Tesla, which warned of slowing sales growth. Treasury yields eased in the bond market after the blowout data on the economy’s growth at the end of 2023 also indicated that inflation is moderating.

On Thursday:

The S&P 500 rose 25.61 points, or 0.5%, to 4,894.16.