Dow jumps 500 points, Nasdaq adds 2% as comeback rally gains steam: Live updates
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Stocks rallied on Thursday as investors regained confidence in the economy following encouraging consumer and labor data that helped ease recession worries. The Dow Jones Industrial Average leaped 509 points, or 1.28%. The S&P 500 rose 1.58%, for its sixth straight gain. The broad market index has advanced roughly 8% from its intraday bottom on Aug. 5. The Nasdaq Composite jumped 2.34%. Retails sales increased 1% in July, far surpassing an estimate from Dow Jones that forecast a 0.3% uptick. Also separately, weekly jobless claims fell for the week. After a 3% gain this week, the S&P 500 is now less than 3% below its record. The three major U.S. indexes are now trading above their Aug. 2 closing level, which was the session before the global stock market rout on Aug. 5 that was largely driven by investors’ concerns about an economic slowdown and an unwinding of a popular hedge fund currency trade.

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https://www.cnbc.com/2024/08/14/stock-market-today-live-updates.html