Among the bigger gainers on a day when the stock market followed through to the upside were stocks like ^WFC^, which gained more than 4% to climb back above its 200-day moving average, and ^MSFT^ similarly back above its 200-day and up 3% on the session.
The Dow closed up more than 100 points while the Nasdaq gained nearly 30. Trading in shares of ^NI^ were temporarily halted on Thursday as the market digested news that the company was for sale.
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Leading home improvement retailers ^HD^ and ^LOW^ continued to advance ahead of the final trading day of the week. Home Depot was up more than 5% on Thursday, while Lowe’s closed higher by well above 4%.
Profit-taking in ^SLE^ (below) sent the stock lower by nearly 1% in Thursday’s trading.
Shares of SLE have been largely rangebound for the past few weeks. Thursday’s close marked the stock’s fourth down close in the past five trading days.
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Among the deepest pullbacks of the trading day on Thursday was the pullback of more than 9% in shares of ^KR^. (below)
KR had closed higher for five days in a row prior to Thursday’s reversal. The stock was trading at its highest level since rallying back above its 200-day moving average in mid-September.
Also lower on the day were shares of ^SWY^, dropping by well over 4% and closing back below its 200-day.
Traders took profits in retailer ^JWN^ (below) on Thursday.
Down nearly 3% ahead of Friday’s trading, JWN is at its most oversold since mid-November.
Strength in financials helped shares of ^C^ close higher for a fourth consecutive trading day on Thursday. The stock finished up more than 2%.
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David Penn is Editor in Chief of TradingMarkets.com