U.S. stocks were little changed on Thursday to kick off a new month and quarter as investors monitored progress on lawmakers’ negotiations on further fiscal stimulus.
The Dow Jones Industrial Average eked ahead 12.01 points to 27,793.71.
The S&P 500 gained 4.92 points, to 3,367.92.
Breaking News Alert: Facebook Is Suppressing Politically Conservative Content. Join PatriotPlanet.com Today and Let Your Voice Be Heard.
The NASDAQ added 77.05 points to 11,244.56.
The major averages are coming off their first down month since March. The 30-stock Dow lost 2.2% in September, a typically weak month for equities. The S&P 500 fell 3.9% for the month, while the technology-heavy NASDAQ dropped 5.2%.
However, all three benchmarks achieved strong gains for the third quarter. The S&P 500 rose 8.5% in the quarter for its sixth positive quarter in seven and the index is up 5% for the year.
Major technology shares provided the broader market with some support as Amazon, Microsoft, Alphabet, Apple and Facebook climbed at least 1% each. The S&P 500 tech sector was the biggest winner among the 11 groupings, jumping 1.4%.
The House of Representatives delayed a vote on the Democrats’ $2.2-trillion rescue package on Wednesday evening to allow for more talks, which some saw as a sign that a deal can still be reached.
White House chief of staff Mark Meadows told reporters late Wednesday that President Donald Trump has extended an offer for more than $1.5 trillion in stimulus. No further details were given on the exact figure except that anything around $2 trillion and above would be a “real problem.”
Sentiment was lifted by better-than-expected weekly jobless claims report. The U.S. Labor Department said first-time filers for unemployment benefits came in at 837,000 in the week ending Sept. 26. Economists polled by Dow Jones expected a total of 850,000.
Prices for the 10-Year Treasury stepped, raising yields to 0.69% from Wednesday’s 0.68%. Treasury prices and yields move in opposite directions.
Oil prices retreated $1.82 to $38.40 U.S. a barrel.
Gold prices rallied $12.30 to $1,907.80 U.S. an ounce.