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Dow industrials on pace for best day in 5 weeks as stocks rally on economic data, Arm’s IPO

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U.S. stocks were higher in the final hour of trading on Thursday with the Dow Jones Industrial Average on track for its best day since August 7, as investors...

U.S. stocks were higher in the final hour of trading on Thursday with the Dow Jones Industrial Average DJIA, +0.98% on track for its best day since August 7, as investors digested the latest data on retail sales and producer prices, while cheering Arm Holdings’ ARM, +18.43% initial public offering which boosted the broader market confidence.

The Dow industrials were rising 368 points, or 1.1%, to 34,942, while the S&P 500 SPX, +0.83% was gaining 0.9% and the Nasdaq Composite COMP, +0.83% was up nearly 1%, according to FactSet data. Arm Holdings, the British chip-design company controlled by SoftBank, was jumping over 15% in the final hour of trading Thursday after selling shares at $51 a piece in its initial public offering.

 

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