Dow surges more than 600 points
CNN
US stocks surged Friday as an end-of-week rally gained momentum and sent the Dow up over 600 points.
A new batch of bank earnings and economic data Friday morning increased investors' optimism about the state of the economy and relieved them of worries that the Federal Reserve could raise rates by a full percentage point at its meeting later this month.
The Dow (INDU) gained 622 points, or 22% in early afternoon trading. The S&P 500 (DVS) was up by 1.8% and the Nasdaq (NDX) rose by 1.6%.
President Joe Biden has given permission to Ukraine to strike inside Russian territory with American munitions, though he has restricted their use so Kyiv can only hit targets over the border close to Kharkiv after Russia made significant advances around the city in the northeastern part of the country close to the Russian border, two US officials told CNN.
5 things to know for May 30: Presidential race, Flag controversy, Gaza, Volcano eruption, Price cuts
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