After Awful Wednesday, Wall Street in Better Mood

Dow rises 139 points
By Newser Editors,  Newser Staff
Posted Oct 29, 2020 3:04 PM CDT
After Awful Wednesday, Wall Street in Better Mood
Visitors to the financial district walk past the New York Stock Exchange Wednesday, Oct. 28, 2020, in New York.   (AP Photo/Mary Altaffer)

Wednesday's Wall Street plunge did not bleed into Thursday. The Dow rose 139 points, or 0.5%, to 26,659; the S&P 500 rose 39 points, or 1.2%, to 3,310; and the Nasdaq rose 180 points, or 1.6%, to 11,185. Economic reports showing a booming GDP and a slowdown in the pace of layoffs helped, reports the AP. The rise comes in anticipation of earnings reports from some the tech sector's biggest players, including Apple, Alphabet, Facebook, Amazon, and Twitter, notes the Wall Street Journal.

Still, the rising number of coronavirus cases in the US and around the world continued to weigh on investors, and more market swings were expected in the near future. "We’re going to have volatility probably through the end of the year, probably into next year until we start to get clarification on regulation of the tech industry and whether or not it looks like a vaccine is coming," Tim Courtney of Exencial Wealth Advisors tells the Journal.

(More stock market stories.)

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