Stock market today: Wall Street leaps, and S&P 500 rallies 1.6% as US shoppers drive the economy
4 months, 1 week ago

Stock market today: Wall Street leaps, and S&P 500 rallies 1.6% as US shoppers drive the economy

Associated Press  

NEW YORK — Wall Street rallied to one of its best days of the year Thursday after data showed the U.S. economy is holding up better than expected, with particular credit going to the country’s shoppers. But good news for the economy is once again good news for Wall Street, particularly after a report showed U.S. employers pulled back on their hiring last month by much more than expected. That dud of a jobs report raised worries the U.S. economy could buckle under the weight of high interest rates brought by the Federal Reserve, and it contributed to turmoil in stock markets worldwide. Smaller companies can be more beholden to the strength of the U.S. economy than huge multinationals, and the Russell 2000 index of smaller stocks rose 2.5% to help lead the market.

History of this topic

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