Dow ends over 800 points higher as stocks cap a volatile week with big gains

U.S. stocks ended sharply higher Friday, capping a volatile week that saw Big Tech shares hammered after a series of disappointing earnings reports while industrials and defensive stocks soared. The Dow Jones Industrial Average DJIA, +2.59% ended with a gain of around 828 points, or 2.6%, near 32,861, according to preliminary figures, leaving the blue-chip gauge with a weekly gain of 5.

7% and on track for a monthly advanced of 14.4%. That monthly rise would be the Dow's biggest since January 1976 and the largest October rise on record if it holds up through Monday's close. The S&P 500 SPX, +2.46% rose around 94 points, or 2.5%, to close near 3,901, for a weekly gain of 2.5%. And the tech-heavy Nasdaq Composite COMP, +2.87% bounced higher by around 310 points, or 2.9%, finishing near 11,102, swinging to a weekly gain of 2.2%.

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Why the rout for big tech companies may just be getting startedIf you combine market caps of Microsoft, Apple, Nvidia, Tesla and Amazon and compare that with their aggregate free cash flow, you get a forward earnings multiple that’s down from 70 times at the start of 2022, the Felder Report blog’s Jesse Felder said. 🏳️‍🌈👇🏼⚠️👇🏼🏳️‍🌈
Sumber: MarketWatch - 🏆 3. / 97 Baca lebih lajut »