US stocks rebound after a week in the red
CNN
US stocks rallied Friday as investors tried to stage a rebound to finish a rocky week, though all three major indexes were still on track to close the week in the red.
US stocks rallied Friday as investors tried to stage a rebound to finish a rocky week, though all three major indexes were still on track to close the week in the red. The Dow rose 530 points, or 1.3%, in afternoon trading, pulling back from surging as much as 670 points earlier. The broader S&P 500 rose 1.7% and the Nasdaq Composite gained 2.1%. The rebound comes after a steep decline on Thursday that saw the S&P 500 close in correction territory, down more than 10% from its recent high, for the first time since late 2023. The benchmark index shed roughly $5.28 trillion in market value from its peak on February 19 to market close on March 13, according to FactSet data. Despite the Friday rally, the S&P 500 and Nasdaq were on track for their fourth consecutive week in the red, which would be their worst losing streak in seven months. While the Dow’s gains on Friday pared some of this week’s losses, the blue-chip index as of Friday afternoon was still down more than 3% this week and on track for its worst week since March 2023.
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