Stocks rose on Thursday as traders weighed House Speaker Nancy Pelosi’s latest remarks on the U.S. fiscal stimulus negotiations.

The Dow closed 152.84 points higher, or 0.5%, at 28,363.66. Earlier in the day, the Dow fell as much as 170 points. The S&P 500 gained 0.5% to close at 3,453.49 and the Nasdaq Composite climbed 0.2% to 11,506.01.

Banks led the gains on Thursday as the 10-year Treasury yield hit a four-month high. JPMorgan Chase and Morgan Stanley popped 3.5% and 2.8%, respectively. Citigroup advanced 2.2%.

Coca-Cola rose more than 1% after the company reported a stronger-than-forecast profit for the previous quarter. CSX and AT&T also traded higher on the back of better-than-expected earnings.

On the data front, the Labor Department said weekly jobless claims fell to 787,000 for the week ending Oct. 17. It was the second time since March that claims came in below 800,000. Economists polled by Dow Jones expected first-time applicants for state unemployment insurance to have totaled 875,000.
 

Plan A : Long if market doesn't retrace much and supported firm above 3437. Targets are 3453, 3468 and 3489.

Plan B : Short if market failed to support above 3437. Targets are 3410, 3385 and 3359.
 

U.S. stock futures were little changed on Thursday night as Wall Street weighed the potential for additional fiscal stimulus, as well as news on the earnings and coronavirus treatment fronts.

Intel shares fell more than 9% in after-hours trading following the release of mixed quarterly numbers for the chip maker. The company’s earnings were in line with analyst expectations, but revenue from its data center business fell short of analyst estimates.

Thursday night’s slight moves came as President Donald Trump and former Vice President Joe Biden took part in the final presidential debate before the Nov. 3 election.

The Dow and S&P 500 each gained 0.5% during regular trading while the Nasdaq Composite advanced 0.2% after House Speaker Nancy Pelosi signaled she and Treasury Secretary Steven Mnuchin were making progress in their fiscal stimulus negotiations.

Traders have been keeping an eye on Washington in recent weeks as they gauge the prospects for new coronavirus aid to be pushed through. Several market experts and economists, including Federal Reserve Chairman Jerome Powell, think it is imperative that lawmakers reach a deal on another stimulus package.

Plan A : Long if market doesn't retrace much and supported firm above 11681. Targets are 11710, 11738 and 11765.

Plan B : Short if market failed to support above 11681. Targets are 11641, 11605 and 11558.