Stock market today: Most of Wall Street leaps in a widespread rally, from big stocks to small

NEW YORK — Wall Street rallied following encouraging reports on inflation and on profits at 3M and other big U.S. companies. The S&P 500 rose 1.1% for its best day in seven weeks. The Dow Jones Industrial Average jumped 1.6%, and the Nasdaq composite climbed 1%. The market’s widespread gains included rallies for both Big Tech behemoths and smaller stocks, a departure from much of this month’s trading where a divide deepened between the two groups.

Nvidia rose 1.2% to cut into what had been a 4.8% loss for the week. Most of the other members of the small group of stocks known as the “Magnificent Seven” also rose to claw back some of their losses from earlier in the week. Industrial companies and other businesses whose profits are closely tied to the strength of the economy also rallied. They had lagged this year as high interest weighed on the U.S. economy and slowed its growth.

Stocks generally got another boost from the latest update on inflation, which investors saw as further evidence their expectations for coming cuts to interest rates will prove true. “Income growth is slow, spending growth is moderating, goods prices are in deflation, service price inflation is tame," according to Brian Jacobsen, chief economist at Annex Wealth Management."If this doesn’t give the Fed confidence to cut, nothing will.”

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Stock market today: Wall Street opens higher after inflation continues to easeNEW YORK (AP) — Stocks are edging higher in early trading on Wall Street and are heading for their fourth weekly gain in a row.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »

Stock market today: Wall Street inches higher ahead of inflation reportStocks inched higher on Wall Street as markets wait for a key report on inflation. The S&P 500 edged up 0.1% Thursday. The Nasdaq composite added 0.3%, and the Dow Jones Industrial Average rose 0.1%.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »

Stock market today: Wall Street barely budges ahead of inflation reportNEW YORK (AP) — Stocks are barely budging in early trading on Wall Street as markets wait for a key report on inflation. The S&P 500 was up about 0.1% in the early going Wednesday. The Nasdaq composite was up 0.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »

Stock market today: Wall Street drifts in subdued trading around last week's recordsStocks drifted to a mixed close near the all-time highs they set last week. The S&P 500 index edged up 0.2% Wednesday. The Nasdaq composite rose 0.5%, and the Dow Jones Industrial Average edged up less than 0.1%.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »

Stock market today: Wall Street opens mixed as Big Tech steadies itselfNEW YORK (AP) — U.S. stocks are stanching the bleeding, a day after their worst losses since 2022 led to a wipeout for financial markets circling the world.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »

Stock market today: Wall Street slightly lower as airlines post earnings ahead of latest GDP reportWall Street leaned toward losses before the opening bell Thursday as more earnings poured in while investors waited for the latest data on how the U.S...
Herkunft: YahooFinanceCA - 🏆 47. / 63 Weiterlesen »