U.S. stocks kept up a four-session string of massive moves Thursday. Is this the “new normal” for stocks as some floor traders are speculating? Or the natural clearing of prices after a sudden change in fundamentals — in this case, a worsening U.S. economic outlook and dissent-ridden U.S. government?
Either way, the Dow Jones Industrial Average DJIA has swung more than 400-points for four straight days, a new record in the index’s 115-year history. The fact that the week’s former big day of gains, on Tuesday, was followed by a loss that wiped out all of that advance, makes you want to buckle your seatbelts for Friday’s trading. Read more on Thursday’s stock trading.
Here are the numbers:
The Dow Jones Industrial Average closed up 423.37 points, or 4%, at 11,143.31, with all 30 components higher, led by a 16% rally in Cisco Systems Inc. CSCO shares. The gain wasn’t enough to wipe out Wednesday’s 520-point loss, and still leaves the average down 2.6% for the week.
The S&P 500 SPX ended up 51.88 points, or 4.6%, to 1,172.64. A 6% rally in financial stocks led gains for all 10 S&P subsectors.
The Nasdaq Composite COMP gained 111.63 points, or 4.7%, to 2,492.68.
For all three indexes, Thursday’s gain was the second-biggest of the year.
Read more...
Dow Jones Industrial Average
(DJI: ^DJI )| Index Value: | 11,143.31 |
|---|---|
| Trade Time: | 4:08PM EDT |
| Change: |  423.37 (3.95%) |
| Prev Close: | 10,719.94 |
|---|---|
| Open: | 10,729.85 |
| Day's Range: | 10,729.85 -11,278.90 |
| 52wk Range: | 9,915.73 -12,928.50 |
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