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 percent, continuing a roller-coaster ride for the market in recent days. The Dow Jones Industrial Average added 1.8 percent, and the Nasdaq composite gained 2.9 percent.
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 percent 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 percent, to 5,319.31.
The Dow Jones Industrial Average rose 683.04 points, or 1.8 percent, to 39,446.49.
The Nasdaq composite rose 464.22 points, or 2.9 percent, to 16,660.02.
The Russell 2000 index of smaller companies rose 49.31 points, or 2.4 percent, to 2,084.42.
For the week:
The S&P 500 is down 27.25 points, or 0.5 percent.
The Dow is down 290.77 points, or 0.7 percent.
The Nasdaq is down 116.14 points, or 0.7 percent.
The Russell 2000 is down 24.89 points, or 1.2 percent.
For the year:
The S&P 500 is up 549.48 points, or 11.5 percent.
The Dow is up 1,756.95 points, or 4.7 percent.
The Nasdaq is up 1,648.67 points, or 11 percent.
The Russell 2000 is up 57.35 points, or 2.8 percent.
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