Stocks Soar, Erasing Thursday's Plunge

Major indexes closed up more than 3%
By Newser Editors and Wire Services
Posted Jan 4, 2019 3:27 PM CST
Stocks Soar, Erasing Thursday's Plunge
Trader Gregory Rowe works on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew)

(Newser) – Wall Street roared back, wiping out all of the market's losses from the previous day, as a barrage of positive news eased concerns about the global economy and interest rates, the AP reports. Major indexes closed up more than 3% Friday. Traders were encouraged by news that employers ramped up hiring in December, which could allay fears about an economic slowdown. Those worries, along with a weak revenue forecast from Apple, contributed to steep losses Thursday. China said trade talks would resume next week, and Fed Chairman Jerome Powell said the central bank will be flexible with rates. The S&P 500 rose 84 points, or 3.4%, to 2,531. The Dow Jones Industrial Average jumped 746 points, or 3.3%, to 23,433. The Nasdaq rose 275 points, or 4.3%, to 6,738. (Read more stock market stories.)

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