By ABC (Business) | Created at 2024-10-16 20:29:14 | Updated at 2024-10-16 23:36:46
3 hours ago
U.S. stocks rose following better-than-expected profit reports from Morgan Stanley, United Airlines and other big companies
ByThe Associated Press
October 16, 2024, 4:18 PM
U.S. stocks rose following better-than-expected profit reports from Morgan Stanley, United Airlines and other big companies.
The S&P 500 climbed 0.5% Wednesday, a day after sliding from its all-time high because of tumbling energy and technology stocks. The Dow Jones Industrial Average added 0.8%, notching another record high, and the Nasdaq composite rose 0.3%.
Exxon Mobil and other energy producers stabilized a day after tumbling with the price of crude oil. Stocks in the chip industry also held up better a day after a market-shaking warning from Dutch supplier ASML. Treasury yields eased in the bond market.
On Wednesday:
The S&P 500 rose 27.21 points, or 0.5%, to 5,842.47.
The Dow Jones Industrial Average rose 337.28 points, or 0.8%, to 43,077.70.
The Nasdaq composite rose 51.49 points, or 0.3%, to 18,367.08.
The Russell 2000 index of smaller companies rose 36.86 points, or 1.6%, to 2,286.68.
For the week:
The S&P 500 is up 27.44 points, or 0.5%.
The Dow is up 213.84 points, or 0.5%.
The Nasdaq is up 24.14 points, or 0.1%.
The Russell 2000 is up 52.27 points, or 2.3%.
For the year:
The S&P 500 is up 1,072.64 points, or 22.5%.
The Dow is up 5,388.16 points, or 14.3%.
The Nasdaq is up 3,355.73 points, or 22.4%.
The Russell 2000 is up 259.60 points, or 12.8%.
