X The stock market held decent gains Thursday as the S&P 500 and Nasdaq composite hit all-time highs, while small caps recovered nicely after recent weakness.
Outperformers in the Dow Jones industrial average included Goldman Sachs (GS), American Express (AXP), General Electric (GE) and UnitedHealth Group (UNH) with gains of more than 1%.
Financials have been under a lot of pressure lately amid a big drop in the 10-year Treasury yield, from around 2.6% in March to around 2.22% now.
Major stock indexes showed gains of around 0.6% in afternoon trading. Volume on the NYSE and Nasdaq was tracking close to Wednesday's levels in the stock market today.
Small caps outperformed with the Russell 2000 up more than 1%. It's back above its 50-day moving average after slumping below the line May 17 in fast trade.
In economic news, private payrolls increased sharply to 253,000 in May, well above the consensus estimate of 170,000. The data came ahead of Friday's jobs report, which is expected to see job growth of 185,000.
Among the day's movers, Las Vegas Sands (LVS) broke out powerfully over a 59.95 cup-with-handle buy point. Shares jumped 4% to 61.72. The move was helped by another strong month of gaming revenue in Macau, the only place in China where gambling is legal.
Pinnacle Foods (PF) jumped 5% on reports that Conagra Brands (CAG) has approached the company about a possible acquisition.
Inside the IBD 50, Five Below (FIVE) was mostly unchanged ahead of its earnings report after the close. It's just below a conventional entry of 52.80. Floor & Decor (FND), meanwhile, recovered after two straight sharp declines, rising nearly 3%. It's still holding above a 38.59 buy point from a short IPO base.
Earnings from Broadcom (AVGO), Guidewire Software (GWRE) and Workday (WDAY) are also due after the close.
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