U.S. stocks rose to one of their best days of the year as Wall Street relaxed after the first of several highly anticipated reports on the economy this week came in better than expected.
The S&P 500 rallied 1.7% Tuesday after the government reported inflation at the wholesale level slowed last month by more than anticipated. The Dow Jones Industrial Average gained 1%, and the Nasdaq composite climbed 2.4%.
Starbucks soared after naming Brian Niccol, the head of Chipotle, as its new CEO. Treasury yields eased ahead of more reports this week on inflation and retail sales.
On Tuesday:
The S&P 500 rose 90.04 points, or 1.7%, to 5,434.43.
The Dow Jones Industrial Average rose 408.63 points, or 1%, to 39,765.64.
The Nasdaq composite rose 407 points, or 2.4%, to 17,187.61.
The Russell 2000 index of smaller companies rose 33.11 points, or 1.6%, to 2,095.19.
For the week:
The S&P 500 is up 90.27 points, or 1.7%.
The Dow is up 268.10 points, or 0.7%.
The Nasdaq is up 442.30 points, or 2.6%.
The Russell 2000 is up 14.28 points, or 0.7%.
For the year:
The S&P 500 is up 664.60 points, or 13.9%.
The Dow is up 2,076.10 points, or 5.5%.
The Nasdaq is up 2,176.26 points, or 14.5%.
The Russell 2000 is up 68.12 points, or 3.4%.
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