U.S. stocks rallied to their best day since 2022 Thursday following an encouraging update on the job market.
The S&P 500 jumped 2.3%, continuing a roller-coaster ride for the market in recent days. The Dow Jones Industrial Average added 1.8%, and the Nasdaq composite gained 2.9%.
Treasury yields also climbed in the bond market, a signal that investors are feeling less worried about the economy, after a report showed fewer workers applied for unemployment benefits last week. Eli Lilly helped lead the market with a gain of 9.5% after delivering better profit for the spring than expected. Big Tech stocks rebounded.
On Thursday:
The S&P 500 rose 119.81 points, or 2.3%, to 5,319.31.
The Dow Jones Industrial Average rose 683.04 points, or 1.8%, to 39,446.49.
The Nasdaq composite rose 464.22 points, or 2.9%, to 16,660.02.
The Russell 2000 index of smaller companies rose 49.31 points, or 2.4%, to 2,084.42.
For the week:
The S&P 500 is down 27.25 points, or 0.5%.
The Dow is down 290.77 points, or 0.7%.
The Nasdaq is down 116.14 points, or 0.7%.
The Russell 2000 is down 24.89 points, or 1.2%.
For the year:
The S&P 500 is up 549.48 points, or 11.5%.
The Dow is up 1,756.95 points, or 4.7%.
The Nasdaq is up 1,648.67 points, or 11%.
The Russell 2000 is up 57.35 points, or 2.8%.
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