U.S. stocks climbed after market superstar Nvidia and another round of companies said they’re making even fatter profits than expected.
The S&P 500 pulled 0.5% higher Thursday after flipping between modest gains and losses several times in the morning. The Dow Jones Industrial Average jumped 1.1%, and the Nasdaq composite edged up less than 0.1%.
Banks, smaller companies and other areas of the stock market that tend to do best when the economy is strong helped lead the way, while bitcoin briefly broke above $99,000. Crude oil, meanwhile, continued to rise. Treasury yields edged higher in the bond market.
On Thursday:
The S&P 500 rose 31.60 points, or 0.5%, to 5,948.71.
The Dow Jones Industrial Average rose 461.88 points, or 1.1%, to 43,870.35.
The Nasdaq composite rose 6.28 points, or less than 0.1%, to 18,972.42.
The Russell 2000 index of smaller companies rose 38.48 points, or 1.7%, to 2,364.02.
For the week:
The S&P 500 is up 78.09 points, or 1.3%.
The Dow is up 425.36 points, or 1%.
The Nasdaq is up 292.30 points, or 1.6%.
The Russell 2000 is up 60.18 points, or 2.6%.
For the year:
The S&P 500 is up 1,178.88 points, or 24.7%.
The Dow is up 6,180.81 points, or 16.4%.
The Nasdaq is up 3,961.07 points, or 26.4%.
The Russell 2000 is up 336.94 points, or 16.6%.