Markets

Here's what happened to the market on Thursday

Traders work on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters

Dow Jones Industrial Average rises 88 points

The Dow climbed 89.92 points, or 0.30%, to 29,379.77. The S&P 500 gained 0.33% to close at 3,345.78. The Nasdaq Composite advanced 0.67% to 9,572.15. Wall Street managed to recover coronavirus-related losses amid a raft of strong economic data and corporate earnings.

Data, earnings outweigh coronavirus

The Dow joined the S&P 500 and Nasdaq in record territory, erasing its losses from the recent coronavirus scare. Investors are still keeping an eye on the latest news around the virus, but better-than-expected economic data — such as the latest weekly jobless claims numbers — and solid earnings from companies such as Twitter have outweighed the negative sentiment from the virus.

Twitter jumps, Boeing climbs

Twitter shares gained 15.06% after the social media company reported it made money from more users in the previous quarter than analysts expected. Boeing was among the best-performing Dow stocks on Thursday, gaining 3.60%.

What happens next?

The January U.S. jobs report is scheduled for release Friday at 8:30 a.m. ET. Read more here.

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