How major US stock indexes fared Thursday, 5/2/2024

U.S. stocks closed higher and trimmed their losses for the week.

The S&P 500 climbed 0.9% Thursday, a day after swinging sharply when the Federal Reserve said it’s likely delaying cuts to interest rates. The Dow Jones Industrial Average also rose 0.9%, and the Nasdaq composite added 1.5%.

Qualcomm, Carvana and other companies helped lead the market after reporting stronger results for the latest quarter than expected. Treasury yields eased in the bond market following reports on joblessness and worker productivity. Friday’s monthly update on the U.S. job market will likely be more impactful.

On Thursday:

The S&P 500 rose 45.81 points, or 0.9%, to 5,064.20.

The Dow Jones Industrial Average rose 322.37 points, or 0.9%, to 38,225.66.

The Nasdaq composite rose 235.48 points, or 1.5%, to 15,840.96.

The Russell 2000 index of smaller companies rose 35.88 points, or 1.8%, to 2,016.11.

For the week:

The S&P 500 is down 35.76 points, or 0.7%.

The Dow is down 14 points, or less than 0.1%.

The Nasdaq is down 86.94 points, or 0.5%.

The Russell 2000 is up 14.11 points, or 0.7%.

For the year:

The S&P 500 is up 294.37 points, or 6.2%.

The Dow is up 536.12 points, or 1.4%.

The Nasdaq is up 829.61 points, or 5.5%.

The Russell 2000 is down 10.96 points, or 0.5%.

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