Wall Street rallies to its best day since 2022 on encouraging unemployment data; S&P 500 jumps 2.3%
The monitor of specialist Anthony Matesic is seen through his glasses as he works on the floor of the New York Stock Exchange, Wednesday, Aug. 7, 2024. (AP Photo/Richard Drew)
NEW YORK (AP) — U.S. stocks rallied Thursday in Wall Street's latest sharp swerve after a better-than-expected report on unemployment eased worries about the slowing economy.
The S&P 500 jumped 2.3% for its best day since 2022 and shaved off all but 0.5% of its loss from what was a brutal start to the week. The Dow Jones Industrial Average rose 683 points, or 1.8%, and the Nasdaq composite climbed 2.9% as Nvidia and other Big Tech stocks helped lead the way.
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