NEW YORK, New York – U.S. stocks were mixed on Thursday with the Nasdaq Composite and Standard and Poor’s 500 rebounding after two days of heavy losses.
The Dow Jones industrials remained in the doldrums with a more than 100 points loss.
The U.S. dollar steamed ahead with several crucial levels across the board giving way.
“Going into the end of the year and early 2022, I definitely think the cyclical trade continues to show strength. I also really like small caps in this space, especially because of inflationary pressures,” Liz Young, head of investment strategy at SoFi was quoted as saying by Reuters on Thursday.
The Nasdaq Composite did best, rising 81.58 points or 0.52 percent to 15,704.28.
The Standard and Poor’s 500 added 2.56 points or 0.06 percent to 4,649.27.
The Dow Jones index retreated 158.71 points or 0.44 percent to 35,921.23.
The rally in the U.S. dollar gathered steam Thursday. The euro fell to 1.1445. The British pound sank to 1.3363. The Japanese yen was sharply lower at 114.07. The Swiss franc crumbled to 0.9215.
The Canadian dollar was sold off to 1.2585. The Australian dollar dived to 0.7289. The New Zealand dollar slid to 0.7020.
On overseas equity markets, the CAC 40 in Paris, France gained 0.20 percent. The German Dax was up 0.10 percent. The FTSE 100 in London advanced 0.60 percent.
On Asian markets, in Tokyo, the Nikkei 225 rallied 171.08 points or 0.59 percent to 29,277.86.
The Hang Seng in Hong Kong climbed 251.85 points or 1.01 percent to close Thursday at 25,247.99.
.China’s Shanghai Composite rose 40.33 points or 1.15 percent to 3,532.79.
The only main market to go against the trend was the Australian All Ordinaries which declined 36.20 points or 0.47 percent to 7,701.20.