U.S. Stocks Move Mostly Higher After Early Volatility
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On October 16, 2024, U.S. stocks showed early volatility but moved mostly higher throughout the day; the Dow rose by 337.28 points (0.8%) to 43,077.70, reaching a record closing high; the Nasdaq increased by 51.49 points (0.3%) to 18,367.08, and the S&P 500 climbed 27.21 points (0.5%) to 5,842.47; Cisco Systems (CSCO) surged 4.3% after a rating upgrade from Citi; UnitedHealth (UNH) rebounded 2.7% after a previous drop; the market's early uncertainty followed a Tuesday downturn led by tech stocks after ASML's warning; traders remain optimistic about the U.S. economy ahead of key reports on jobless claims, retail sales, and industrial production; import prices fell 0.4% in September, signaling muted inflationary pressures; airline stocks rose significantly, with United Airlines (UAL) up 12.4% after strong Q3 results; the bond market saw a dip in the yield on the ten-year note to 4.016%; overseas, Asia-Pacific markets mostly declined, while European markets had mixed results.

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