The Bull is Back: Dow Surges More Than 1300 Points as Stocks Rise for Third Day
Stocks surged higher on Thursday, the third consecutive day of gains for Dow Jones Industrial Average and the S&P 500, despite the release of data showing a record jump in jobless claims.
The Dow rose 1,351.62 points, a 6.38 percent gain. The S&P 500 climbed 6.24 percent. The Nasdaq Composite jumped 5.6 percent. The smaller company focused Russell 2000 index soared 6.3 percent.
The Dow is now up more than 20 percent from its recent low, ending the bear market after 11 days and putting the blue-chip index back into bull market territory. It’s not clear how long the new bull market will last. The prior bull market was the longest-running in the history of U.S. stocks and ended in the swiftest ever decline into bear market territory as the coronavirus pandemic shut down large segments of the U.S. economy.