How major US stock indexes fared Tuesday, 4/23/2024

Release time：2024-05-21 10:19:45 Source：Universal Update news portal

Stocks rallied for a second straight day on Wall Street, softening what’s been a rough April.

The S&P 500 added 1.2% Tuesday to pull further out of the hole created by a six-day losing streak. The Dow Jones Industrial Average climbed 0.7%, and the Nasdaq composite rose 1.6%.

A weaker-than-expected report on U.S. business activity helped support the market, which remains in an awkward phase. The hope on Wall Street is for the economy to avoid a severe recession, but not to stay so hot that it keeps upward pressure on inflation. GE Aerospace soared after raising its profit forecast.

On Tuesday:

The S&P 500 rose 59.95 points, or 1.2%, to 5,070.55.

The Dow Jones Industrial Average rose 263.71 points, or 0.7%, to 38,503.69.

The Nasdaq composite rose 245.33 points, or 1.6%, to 15,696.64.

The Russell 2000 index of smaller companies rose 35.17 points, or 1.8%, to 2,002.64.

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