Stocks rallied for a second straight day on Wall Street, softening what’s been a rough April.
The S&P 500 added 1.2% Tuesday to pull further out of the hole created by a six-day losing streak. The Dow Jones Industrial Average climbed 0.7%, and the Nasdaq composite rose 1.6%.
A weaker-than-expected report on U.S. business activity helped support the market, which remains in an awkward phase. The hope on Wall Street is for the economy to avoid a severe recession, but not to stay so hot that it keeps upward pressure on inflation. GE Aerospace soared after raising its profit forecast.
On Tuesday:
The S&P 500 rose 59.95 points, or 1.2%, to 5,070.55.
The Dow Jones Industrial Average rose 263.71 points, or 0.7%, to 38,503.69.
The Nasdaq composite rose 245.33 points, or 1.6%, to 15,696.64.
The Russell 2000 index of smaller companies rose 35.17 points, or 1.8%, to 2,002.64.
For the week:
The S&P 500 is up 103.32 points, or 2.1%.
The Dow is up 517.29 points, or 1.4%.
The Nasdaq is up 414.63 points, or 2.7%.
The Russell 2000 is up 54.99 points, or 2.8%.
For the year:
The S&P 500 is up 300.72 points, or 6.3%.
The Dow is up 814.15 points, or 2.2%.
The Nasdaq is up 685.29 points, or 4.6%.
The Russell 2000 is down 24.43 points, or 1.2%.
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
