U.S. stocks rose Thursday, putting major indexes on track to end a three-day losing streak. The Dow Jones Industrial Average rose 102 points, or 0.3%, to 33689 shortly after the opening bell, chipping away at gains after logging its steepest three-day decline since late October. The S&P 500 gained 0.7%, and the Nasdaq Composite jumped 1.2%. Investors have been jittery this week: consumer prices surged higher in April, prompting concerns that the Federal Reserve may move on interest rates or scale back bond purchases sooner than expected. But central bank officials have repeatedly said that they expect any jump in inflation to be transitory. A Fed policy maker on Wednesday said more data would be necessary for the central bank to begin scaling back its easy-money policies.
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By Anna Hirtenstein U.S. stocks opened higher Thursday on the prospect of as much as $1.8 trillion in new government spending that could spur economic growth. The S&P 500 added 0.8%, suggesting that the broad-market index may resume its march toward a fresh record. The Nasdaq Composite Index climbed over 1%. The Dow Jones Industrial Average advanced 192 points, or 0.6%. The stock market rally resumed after President Biden outlined proposals on Wednesday for his new American Families Plan, which would boost spending on child care, education and paid leave. Investors optimism was also buoyed after Federal Reserve Chairman Jerome Powell said the central bank would continue supporting the economy, while noting signs that growth has revived and the labor market is strengthening.
Provided by Dow Jones
By Anna Hirtenstein and Paul Vigna U.S. stocks rose Thursday as investors cheered encouraging data on the economy, a strong batch of corporate earnings and the prospect of as much as $1.8 trillion in new government spending. The Dow Jones Industrial Average added 0.4%, the S&P 500 gained 0.6% and the Nasdaq Composite rose 0.4%. If those gains hold to the closing bell, they would put the S&P 500 at a fresh record. The morning provided investors with fresh signs of the economy s recovery. The U.S. economy grew at a 6.4% rate in the first quarter, approaching its pre-pandemic size, and weekly jobless claims fell to their lowest level since the pandemic began last year.
Provided by Dow Jones
By Anna Hirtenstein and Paul Vigna U.S. stocks jumped in afternoon trading Thursday as investors cheered encouraging data on the economy, a strong batch of corporate earnings and the prospect of as much as $1.8 trillion in new government spending. The Dow Jones Industrial Average gained 0.7%, and the S&P 500 added 0.6%. The Nasdaq Composite climbed 0.2%. Those gains would put the S&P 500 at a fresh record. Stocks rose early, but then fell into the red as bond yields jumped, repeating the recent pattern of intraday swings. Such volatility isn t unusual given the market s current state, said Katerina Simonetti, senior vice president at Morgan Stanley Private Wealth Management.
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