Wall Street rose sharply to add to an already strong November, which is on track to be one of the market’s best months of the year.
The S&P 500 jumped 1.6% Friday in a widespread rally that lifted everything from Big Tech behemoths to the smallest, money-losing companies. The Dow gained 391 points, and the Nasdaq rose 2%.
Stocks climbed as markets recovered from the prior day’s slump, triggered in part by worries about additional hikes to interest rates by the Federal Reserve. Bets diminished for a December hike by the Fed, even though a report in the morning showed inflation expectations on the rise.
The S&P 500 rose 67.89 points, or 1.6%, to 4,415.24.
The Dow Jones Industrial Average rose 391.16 points, or 1.2%, to 34,283.10.
The Nasdaq composite rose 276.66 points, or 2%, to 13,798.11.
The Russell 2000 index of smaller companies rose 18.09 points, or 1.1% to 1,705.32.
For the week:
The S&P 500 is up 56.90 points, or 1.3%.
The Dow is up 221.78 points, or 0.7%.
The Nasdaq is up 319.82 points, or 2.4%.
The Russell 2000 is down 55.38 points, or 3.1%.
For the year:
The S&P 500 is up 575.74 points, or 15%.
The Dow is up 1,135.85 points, or 3.4%.
The Nasdaq is up 3,331.63 points, or 31.8%
The Russell 2000 is down 55.92 points, or 3.2%.