Stocks rose on Wall Street, adding to weekly gains for major indexes that have been mired in a broad slump amid inflation and recession concerns.
The S&P 500 rose 1.1% Tuesday. The Dow Jones Industrial Average and the Nasdaq also rose. The gains tempered from an earlier jump that sent almost all of the stocks in the S&P 500 higher. It was the latest knee-jerk motion in a market that has been moving erratically in recent weeks.
Many U.S. companies are reporting solid profits for the most recent quarter. Goldman Sachs led banks higher after reporting results that beat forecasts.
The S&P 500 rose 42.03 points, or 1.1%, to 3,719.98.
The Dow Jones Industrial Average rose 337.98 points, or 1.1%, to 30,523.80.
The Nasdaq rose 96.60 points, or 0.9%, to 10,772.40.
The Russell 2000 index of smaller companies rose 20.20 points, or 1.2%, to 1,755.96.
For the week:
The S&P 500 is up 136.91 points, or 3.8%.
The Dow is up 888.97 points, or 3%.
The Nasdaq is up 451.01 points, or 4.4%.
The Russell 2000 is up 73.55 points, or 4.4%.
For the year:
The S&P 500 is down 1,046.20 points, or 22%.
The Dow is down 5,814.50 points, or 16%.
The Nasdaq is down 4,872.57 points, or 31.1%.
The Russell 2000 is down 489.36 points, or 21.8%.
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