Stocks Rebound After Steep Decline

The stock market bounced back from its worst drop since September, with the S&P 500 leading the recovery by rising 1.2 percent on Thursday. The Dow Jones Industrial Average also climbed 1 percent, while the Nasdaq composite added 1.3 percent. This reversal was mainly driven by a strong performance from Big Tech stocks.

Economic Reports Indicate Stability and Easing Inflation

A suite of reports released on Thursday indicated that the economy remains solid and that pressures on inflation may be easing. These positive findings could provide the Federal Reserve with the evidence it needs to consider interest rate cuts, which investors have been eagerly anticipating.

Market Performance on Thursday

• The S&P 500 rose 60.54 points, or 1.2 percent, to reach 4,906.19.
• The Dow Jones Industrial Average increased by 369.54 points, or 1 percent, closing at 38,519.84.
• The Nasdaq composite gained 197.63 points, or 1.3 percent, ending the day at 15,361.64.
• The Russell 2000 index of smaller companies rose by 27.08 points, or 1.4 percent, reaching 1,974.42.

Weekly Performance

For the week, the S&P 500 is up 15.22 points, or 0.3 percent, while the Dow has gained 410.41 points, or 1.1 percent. On the other hand, the Nasdaq is down 93.72 points, or 0.6 percent, and the Russell 2000 is down 3.91 points, or 0.2 percent.

Yearly Performance

Looking at the year-to-date performance, the S&P 500 has gained 136.36 points, or 2.9 percent, while the Dow has increased by 830.30 points, or 2.2 percent. The Nasdaq has seen a rise of 350.29 points, or 2.3 percent, whereas the Russell 2000 is down 52.66 points, or 2.6 percent.

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