News Formal

Wall Street rallies from worst day in 2 years as Japanese stocks soar

  • 📰 AP
  • ⏱ Reading Time:
  • 29 sec. here
  • 16 min. at publisher
  • 📊 Quality Score:
  • News: 64%
  • Publisher: 51%

Financial Markets News

Stocks And Bonds,General News,Asia

U.S. stocks are bouncing back, and calm is returning to Wall Street after Japan’s market soared earlier to claw back much of the losses from its worst day since 1987. The S&P 500 was rallying by 2.1% Tuesday and on track to break a brutal three-day losing streak. The Dow Jones Industrial Average was up 617 points, and the Nasdaq composite was up 2.

Specialist Patrick King, left, works at his post on the floor of the New York Stock Exchange, Tuesday, Aug. 6, 2024.Specialist Patrick King, left, works at his post on the floor of the New York Stock Exchange, Tuesday, Aug. 6, 2024.Specialist Patrick King, left, works at his post on the floor of the New York Stock Exchange, Tuesday, Aug. 6, 2024.

AP AUDIO: Wall Street rallies to bounce back from its worst day in nearly 2 years, as Japanese stocks soarStronger-than-expected profit reports from several big U.S. companies helped drive the market. Kenvue, the company behind Tylenol and Band-Aids, jumped 14.5% after reporting stronger profit than expected thanks in part to higher prices for its products. Uber rolled 11.2% higher after easily topping profit forecasts for the latest quarter.

The stock market’s “dip is not a blip,” he warned in a report, and called it “too soon to jump back in.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 728. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Wall Street finishes worst week since April with more lossesThe Associated Press is an independent, not-for-profit news cooperative headquartered in New York City.
Source: kgun9 - 🏆 584. / 51 Read more »

Wall Street steadies after its worst day in nearly 2 years, and stocks are mixedSome calm is returning to Wall Street in early trading after Japan’s stock market soared to bounce back from its worst loss since 1987
Source: latimes - 🏆 11. / 82 Read more »