Stocks Recover Ground Day After Big Slump

Dow ends day up 56
By Newser Editors and Wire Services
Posted May 18, 2017 3:11 PM CDT
Specialist Meric Greenbaum, left, and trader James Conti work on the floor of the New York Stock Exchange, Wednesday, May 17, 2017.   (AP Photo/Richard Drew)

(Newser) – Solid gains in phone companies and some retailers pushed US stock indexes modestly higher on Wall Street, recouping some of the ground they lost a day earlier, the AP reports. AT&T and Verizon each rose 1.3% Thursday. Walmart Stores rose 3.2% and L Brands climbed 2.7% after both reported better earnings than analysts were expecting. The slight gains came a day after the market's worst drop since September as political tumult deepened in Washington. Investors are worried that President Donald Trump will have trouble enacting tax cuts and other business-friendly policies. The Standard & Poor's 500 index increased 8 points, or 0.4%, to 2,365 Thursday. The Dow Jones industrial average gained 56 points, or 0.3%, to 20,663. The Nasdaq composite rose 43 points, or 0.7%, to 6,055. (Read more stock market stories.)

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