Stocks Gain on Last Day of Brutal Month

Stocks climb for second consecutive day
By Newser Editors and Wire Services
Posted Oct 31, 2018 3:11 PM CDT
In this Oct. 23, 2018, file photo specialist Peter Mazza, center, and trader Michael Urkonis work on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew)

(Newser) – Stocks climbed for the second day in a row at the end of a brutal month for global markets, the AP reports. Investors applauded strong quarterly results Wednesday from companies including Facebook and General Motors, giving the market its first two-day gain since late September. GM, which also announced buyouts, soared 9.1%. Facebook added 3.8%. An unusually turbulent ride for investors left the S&P 500 down nearly 7% in October, its worst monthly loss in seven years. The S&P 500 rose 29 points, or 1.1%, to 2,711. The Dow Jones Industrial Average climbed 241 points, or 1%, to 25,115. The Nasdaq composite rose 144 points, or 2%, to 7,305. (Read more stock market stories.)

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