Dow Soars as Market Passes Final Inflation Test of 2024
The stock market fell sharply on Friday from the start of the week after a major inflation test for the end of the year came in lower than expected.
The Dow Jones Industrial Average gained 499 points, or 1.2%, and the S&P 500 gained 1.1%. The Nasdaq Composite rose 1%. Stocks actually opened lower before the morning rally.Like Thursday, the major indexes lost some ground in the final hours, but this time all three closed higher.
Most S&P 500 stocks closed higher for the first time this month, snapping the index’s 14-day losing streak. Its longest streak was previously 10 days in 2000, according to Dow Jones market data going back to Dec. 31, 1999. : Every sector of the S&P 500 rose for the first time since Election Day.
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