Market Snaps 3-Week Skid

Major indexes have a strong day
By Newser Editors and Wire Services
Posted Sep 9, 2022 3:18 PM CDT
Market Snaps 3-Week Skid
Pedestrians walk past the New York Stock Exchange in this file photo.   (AP Photo/John Minchillo, file)

Stocks had a strong day on Friday as the market broke a three-week losing streak. The Dow rose 377 points, or 1.1%, to 32,151; the S&P 500 rose 61 points, or 1.5%, to 4,067; and the Nasdaq rose 250 points, or 2.1%, to 12,112. Each index posted its first weekly gain in four weeks—the Dow was up about 2.8% for the week, the S&P 3.8%, and the Nasdaq 4%, per CNBC. Technology stocks and retailers had some of the biggest gains on Friday, per the AP. Microsoft rose 2.3%, and Amazon rose 2.6%. DocuSign jumped 10.7% after the electronic signature company reported strong second-quarter sales and raised its subscription forecast.

All 11 industry sectors in the benchmark S&P 500 rose, though makers of household goods and utilities, which are typically considered less risky investments, lagged the market. US crude oil prices rose 3.9%, helping push up energy sector stocks. Exxon Mobil rose 2.1%. Smaller company stocks also notches solid gains, pushing the Russell 2000 index 2% higher. On tap next week: The Labor Department will release its report on consumer prices for August on Tuesday and a report on wholesale prices on Wednesday. On Thursday, Wall Street will get an update on retail sales for August.

(More stock market stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.