Stock market rallies, Dow up 500 points
BISMARCK, N.D. (KFYR) - The Dow Jones Industrial Average jumped 505 points Thursday after better-than-expected earnings reports from Bank of America and other companies. Experts say companies beating earnings expectations is good for those who are invested in the market.
“The market as of late hasn’t been real good. But you’re gonna get some of these days, and you definitely want to make sure that you’re participating in the market on these nice up days because they help soften the blow that we’ve had for the last month and a half,” said David Wald, president of Securian Financial.
The Dow’s rise of 1.5% was matched by the S&P 500, which gained 1.6%, and the Nasdaq Composite, which added 1.7%. One factor that might be adding to the market’s upward trajectory? Last week only saw 293,000 unemployment insurance claims - the lowest since the pandemic began.
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