US Stocks Extend Rally

Dow ends day up 483, S&P 500 and Nasdaq hit record highs
By Newser Editors and Wire Services
Posted Feb 5, 2020 3:00 PM CST
Trader Andrew Silverman, right, works on the floor of the New York Stock Exchange, Wednesday, Feb. 5, 2020. Stocks are opening broadly higher on Wall Street, putting the market on track for a third straight day of solid gains.   (AP Photo/Richard Drew)
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(Newser) – Health care and financial companies led a broad rally on Wall Street Wednesday, giving the market its third straight gain, the AP reports. The S&P 500 and the Nasdaq closed at all-time highs. The latest gains came as another batch of solid corporate earnings reports and more encouraging economic data overshadowed concerns about economic fallout from the virus outbreak that originated in China. Bond prices fell, pushing yields higher. Crude oil prices jumped. The S&P 500 rose 37 points, or 1.1%, to 3,334. The Dow Jones Industrial Average rose 483 points, or 1.7%, to 29,290 and the Nasdaq climbed 40 points, or 0.4%, to 9,508. (Read more stock market stories.)

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