Dow closes up 500 points, lifted by upbeat earnings, strong consumer confidence data

Stocks jumped Wednesday, rising for a second day, after upbeat earnings reports from two bellwethers raised hopes that corporate earnings may be better than feared even with a potential recession.

The Dow Jones Industrial Average gained 526.74 points, or 1.6%, to finish at 33,376.48. The S&P 500 surged 1.49% to settle at 3,878.44, while the Nasdaq Composite jumped 1.54% to end at 10,709.37.Use weakness at the start of 2023 as a buying opportunity, says Citi's Chronert Given this outlook, Chronert recommends that investors find opportunities in areas of the market with earnings resilience, pointing to sectors like healthcare, real estate, energy and industrials, which Citi is overweight on.

Net retail purchases totaled about $15.2 billion for Apple, up 18% over the previous year. Advanced Micro Devices followed behind as the third most popular standalone stock, with investors buying a net $10.6 billion worth.

Hardly a jump. Just an uptick after a week of red.

still it all doesnt look optimistic

Sell EVERYTHING!!! Run for the hills!! the Sky is falling!!! the stock market is going to $0

Boycott Tesla

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Dow, S&P 500 post modest gains Tuesday, stocks bounce after 4-session skidU.S. stocks posted modest gains on Tuesday after slumping to their lowest levels in about a month. The Dow Jones Industrial Average rose about 92 points, or 0.3%, ending near 32,850: More crash coming📉
Source: MarketWatch - 🏆 3. / 97 Read more »

Stock Market News Today: Dow Soars Over 500 Points; Nike, Fedex Jump After Earnings BeatStocks rallied after an upbeat consumer-confidence report. The Dow rose more than 500 points, and all sectors in the S&P 500 gained. Oh that’s why it rallied 🙄 I bet it rallied because that’s where firms were positioned heading into today. Larry Williams called the Xmas rally.
Source: WSJ - 🏆 98. / 63 Read more »

Dow surges 500 points led by Nike on hope earnings will be better than fearedInvestors digested earnings from Nike and FedEx that sent the shares of both companies higher before the bell. biggest sporting event in history mightve had something to contribute. doubt its contagious
Source: CNBC - 🏆 12. / 72 Read more »

Dow advances 300 points at the open as U.S. stocks head for back-to-back gainsU.S. stocks opened higher on Wednesday with the main U.S. indexes on track to book back-to-back gains for the first time in a week as earnings from Nike Inc....
Source: MarketWatch - 🏆 3. / 97 Read more »