04:55 PM EDT, 10/17/2024 (MT Newswires) -- The Dow Jones Industrial Average stretched its record closing run Thursday as traders evaluated the latest economic data and corporate earnings.

The Dow rose 0.4% to 43,239.1. The S&P 500 and the Nasdaq Composite closed little changed at 5,841.5 and 18,373.6, respectively. Energy and technology posted the biggest gains among sectors, while utilities saw the steepest decline.

In economic news, US retail sales climbed more than expected in September amid increased spending at restaurants and apparel stores in a sign consumers remained resilient through the key back-to-school period.

US industrial production decreased more than projected last month, weighed down by a strike at plane maker Boeing ( BA ) and two hurricanes, Federal Reserve data showed.

Weekly applications for unemployment insurance in the US fell last week, while continuing claims rose to their highest level since late July, according to government data.

Retail sales, jobless claims and industrial production data reinforce BMO's view that the Fed will cut interest rates "at a more gradual pace," the firm said. The central bank lowered its benchmark lending rate by 50 basis point last month, marking its first cut since March 2020.

US homebuilder confidence increased for a second straight month in October amid expectations that mortgage rates will moderate in coming months, according to National Association of Home Builders and Wells Fargo data.

"While housing affordability remains low, builders are feeling more optimistic about 2025 market conditions," NAHB Chairman Carl Harris said. "The wild card for the outlook remains the (upcoming US presidential) election."

The US 10-year yield rose eight basis points to 4.1% Thursday, while the two-year rate gained 4.1 basis points to 3.98%.

In company news, Blackstone (BX) shares increased 6.3%, among the top gainers on the S&P 500, after the alternative asset manager logged third-quarter earnings above Wall Street's estimates, while its assets under management grew.

Taiwan Semiconductor Manufacturing ( TSM ) issued an upbeat fourth-quarter revenue guidance, reflecting robust demand across artificial intelligence and smartphones. The chipmaker's US-listed shares jumped 9.8%.

Shares of Broadcom ( AVGO ) and Micron Technology ( MU ) advanced 2.7% and 2.6%, respectively, the top performers on the Nasdaq.

Elevance Health ( ELV ) saw the second-biggest drop on the S&P 500, down nearly 11%, after the health insurer slashed its full-year earnings outlook. The company's third-quarter revenue beat the Street's estimates, while bottom-line missed expectations amid challenges in the Medicaid business.

CSX (CSX) shares dropped 6.7%, the worst Nasdaq performer and among the worst on the S&P 500. Late Wednesday, the rail-based freight transportation supplier posted third-quarter results that fell short of market estimates. The company expects the impact of Hurricane Helene to be larger in the ongoing quarter than in the previous three-month period.

West Texas Intermediate crude oil rose 0.5% to $70.75 a barrel Thursday. Commercial crude stockpiles in the US posted a surprise draw last week, government data showed. Israel said Thursday its military forces killed Hamas leader Yahya Sinwar on Wednesday, CNBC reported.

Gold gained 0.6% to $2,706.80 per troy ounce, while silver dropped 0.3% to $31.87 per ounce.