NEW YORK (Pakistan Point News / Sputnik - 14th October, 2022) US stocks staged a powerful rebound on Thursday after weeks of lethargic trading as speculation that inflation may be near to peaking in the United States drew investors away from the safe-haven of the Dollar into equities and various other risk assets.
The Dow Jones Industrial Average, Wall Street's broadest equities indicator comprising stocks of 30 large US corporations, closed up 828 points, or 2.8% at 30,039 points, after languishing for weeks with typically daily moves of half a percent or less.
The S&P 500 Index, which represents the top 500 US stocks, finished the day up 92 points, or 2.6%, at 3,670. The Nasdaq Composite Index, which comprises marquee Names in technology such as Amazon, Apple, Netflix and Google, settled up 232 points, or 2.2%, at 10,649.
