US stocks closed higher on Thursday, 28 March 2019 in a choppy, low-volume session following reports that the U.S. and China have made progress toward a trade deal even as investors weighed data showing U.S. economic growth slowed in the fourth quarter from above-trend rates. Optimism over trade, however, was tempered by the final reading of U.S. gross domestic product growth in the fourth quarter which was lowered to 2.2% from an estimated 2.6% annualized rate.

The Dow Jones Industrial Average rose 91.87 points, or 0.4%, to end at 25,717.46 and the S&P 500 index gained 10.07 points, or 0.4%, to finish at 2,815.44. The Nasdaq Composite Index closed with a gain of 25.79 points, or 0.3%, at 7,669.17.

The ICE U.S. Dollar Index has gained in three straight sessions, putting the gauge of the buck's strength against a half-dozen rivals on pace for a weekly climb of 0.6%. A stronger buck weighs on commodities priced in the monetary unit, making them comparatively more expensive for buyers using other currencies.

Negative sentiment sparked by worry about sluggish growth has weighed on global stocks this week and pushed bond yields lower across the globe; however, that dynamic also has propelled demand for dollars.

Meanwhile, the 10-year U.S. Treasury note yield on Thursday was up at 2.378%, but holding near a 15-month low. Yields move inversely to prices. Demand for government debt amid mounting concerns about growth internationally has helped to check losses for precious metals, market participants say.

Meanwhile, data released Thursday showed that the U.S. economy grew somewhat slower in the final three months of 2018 than it originally appeared. Gross domestic product expanded at a 2.2% annual pace in the fourth quarter, marked down from an initial 2.6% estimate.

Initial claims for the week ending March 23 decreased by 5,000 to 211,000 from the revised prior week level of 216,000 (from 221,000) while continuing claims for the week ending March 16 increased by 13,000 to 1.756 mln from the revised prior week level of 1.743 mln (from 1.750 mln). The key takeaway from the report is that initial claims have approached the lower end of range that has been in effect over the past year while continuing claims hover near the middle of their range from the past year.

The third estimate for Q4 GDP showed a downward revision to 2.2% from 2.6% and a downward revision to the GDP Price Deflator to 1.7% from 1.8% ( consensus 1.8%). The key takeaway from the report is that even with the downward revision, real GDP increased 3.0% from the fourth quarter of 2017 to the fourth quarter of 2018, down slightly from the previous estimate of 3.1%. Measured from the 2017 annual level to the 2018 annual level, real GDP increased 2.9%.

Separately, Pending Home Sales decreased 0.1% in February (consensus 0.5%). Today's reading follows a revised increase of 4.3% in January (from 4.6%).

Bullion prices ended lower at Comex on Thursday, 28 March 2019. Gold prices on Thursday suffered the largest single-session percentage decline since August, to settle below the key $1,300 mark for the first time in two weeks. A firmer dollar helped to undercut demand.

April gold on Comex shed $20.60, or 1.6%, to end at $1,289.80 an ounce. June which is now the most active contract, lost $21.60, or 1.6%, to end at $1,295.30 an ounce. May silver on Comex shed 32.5 cents, or 2.1%, to $14.973 an ounce.

Crude oil futures fell on Thursday, 28 March 2019 but finished off the session's lows, as U.S. President Donald Trump called on OPEC to lift output, as recent domestic supply data surprised with a gain, and because global growth concerns fed uncertainty over energy demand. Prices also fell due to strong dollar.

Prices recouped most of those earlier losses, however. West Texas Intermediate crude for May delivery on the New York Mercantile Exchange lost 11 cents, or 0.2%, to settle at $59.30 a barrel, after trading as low as $58.20. International benchmark May Brent crude which expires at Friday's settlement, fell a penny to $67.82 a barrel on ICE Futures Europe.

Oil had finished lower on Wednesday after the U.S. Energy Information Administration revealed that U.S. crude supplies unexpectedly rose by 2.8 million barrels for the week ended March 22.

Looking ahead, investors will receive several economic reports on Friday, which will include Personal Spending for January, the Core PCE Price Index for January, Personal Income for February, New Home Sales for February, and the revised University of Michigan Index of Consumer Sentiment for March.