Wall Street Rebounds on Strong Profit Reports

After a sharp decline the previous day, Wall Street made a strong recovery thanks to several impressive profit reports. The S&P 500 rose by 1 percent on Thursday, bringing it within 1 percent of its all-time high. The Dow Jones Industrial Average also saw a gain of 0.9 percent, while the Nasdaq composite climbed by 1.3 percent.

One of the market’s biggest gainers was Micron Technology, which reported better-than-expected results. Treasury yields were mixed following a series of economic reports, including one indicating that the U.S. economy grew less than previously estimated during the summer.

Thursday’s Market Performance

• The S&P 500 rose by 48.40 points, or 1 percent, to reach 4,746.75.
• The Dow Jones Industrial Average increased by 322.35 points, or 0.9 percent, closing at 37,404.35.
• The Nasdaq composite surged by 185.92 points, or 1.3 percent, reaching 14,963.87.
• The Russell 2000 index of smaller companies experienced a gain of 34.23 points, or 1.7 percent, closing at 2,017.06.

Weekly Performance

For the week:

• The S&P 500 is up by 27.56 points, or 0.6 percent.
• The Dow is up by 99.19 points, or 0.3 percent.
• The Nasdaq is up by 149.95 points, or 1 percent.
• The Russell 2000 is up by 31.94 points, or 1.6 percent.

Yearly Performance

For the year:

• The S&P 500 has gained 907.25 points, or 23.6 percent.
• The Dow has gained 4,257.10 points, or 12.8 percent.
• The Nasdaq has gained 4,497.38 points, or 43 percent.
• The Russell 2000 has gained 255.82 points, or 14.5 percent.

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