Markets Right Now: Stocks soar, erasing Thursday's plunge
Jan 4, 2019
Wall Street roared back, wiping out all of the losses from the previous day, as a barrage of positive news eased concerns about the economy and interest rates.
NEW YORK — The latest on developments in financial markets (all times local):
4 p.m.
Wall Street roared back, wiping out all of the market's losses from the previous day, as a barrage of positive news eased concerns about the global economy and interest rates.
Major indexes closed up more than 3 percent Friday.
Traders were encouraged by news that employers ramped up hiring in December, which could allay fears about an economic slowdown.
Those worries, along with a weak revenue forecast from Apple, contributed to steep losses Thursday.
China said trade talks would resume next week, and Fed Chairman Jerome Powell said the central bank will be flexible with rates.
The S&P 500 rose 84 points, or 3.4 percent, to 2,531.
The Dow Jones Industrial Average jumped 746 points, or 3.3 percent, to 23,433. The Nasdaq rose 275 points, or 4.3 percent, to 6,738.
____
11:45 a.m.
Stocks are rocketing higher Friday and wiping out much of the previous day's losses after a string of developments eased investors' concerns about the global economy and interest rates.
The Labor Department said hiring ramped up in December, which could allay fears about an economic slowdown in the U.S. Those worries, along with a weak revenue forecast from Apple, contributed to steep losses Thursday.
China's government said trade talks between the U.S. and China will be held Monday and Tuesday.
Federal Reserve Chairman Jerome Powell said the central bank will be flexible with interest rates.
The S&P 500 index rose 67 points, or 2.8 percent, to 2,515.
The Dow Jones Industrial Average jumped 590 points, or 2.6 percent, to 23,276. The Nasdaq rose 232 points, or 3.6 percent, to 6,695.
____
10:00 a.m.
Stocks are jumping early Friday as investors are encouraged by news of trade talks between the U.S. and China and a strong report on the U.S. job market.
The Dow Jones Industrial Average rose 467 points, or 2.1 percent, to 23,154. The S&P 500 gained 2.1 percent, to 2,498. The Nasdaq rose 2.3 percent, to 6,614. Technology and energy stocks are leading the broad gains.
The U.S. government said employers added 312,000 jobs last month. The strong showing could allay concerns about an economic slowdown in the U.S. Those concerns, along with a weak revenue forecast from Apple, contributed to steep losses in stocks Thursday.
Most overseas markets rose after China's Commerce Ministry said trade talks between the U.S. and China will be held Monday and Tuesday in Beijing.
___
9:35 a.m.
Stocks are jumping at the open on Wall Street Friday as investors welcome news of trade talks between the U.S. and China and a big gain in jobs in the U.S.
The Dow Jones Industrial Average rose 308 points, or 1.4 percent, to 22,994. The S&P 500 gained 34 points, or 1.4 percent, to 2,482.
The Nasdaq rose 96 points, or 1.5 percent, to 6,559.
The U.S. government said employers added 312,000 jobs last month. The strong showing could allay concerns about an economic slowdown in the U.S. Those concerns, along with a weak revenue forecast from Apple, contributed to steep losses in stocks Thursday.
Most overseas markets rose after China's Commerce Ministry said trade talks between the U.S. and China will be held Monday and Tuesday in Beijing.
Bond prices dropped as investors turned back to riskier investments. The yield on the 10-year Treasury surged to 2.64 percent.
More News
Trump Offers Putin Economic Relief in Hopes That Russia Will Return the Favor
The Trump administration is ignoring the will of Congress and waiving new Russia sanctions amid fears that high energy prices will cost Republicans in next month’s elections.
How day of protests unfolded as disorder breaks out across France
Demonstrations across the country turned violent, with cars and buildings set alight and shops ransacked.
M.L.B. Playoff Ads With Sydney Sweeney and Megan Fox Draw Backlash
Commercials promoting a gambling platform and endorsing male enhancement have rankled fans, and even athletes. Who is in charge?
Weak Links Start to Show in A.I. Borrowing
Debt trouble at CoreWeave, Oracle and SoftBank raises questions about whether there are broader problems with the data center build-out.
The Reporter Who Exposed Elizabeth Holmes on Nathan Fielder’s Documentary
Ms. Holmes handed the makers of “You Can See Everything” — and the rest of the world — a microscope with which to observe and dissect her lies.
Can Cereal Be Healthy? Big Companies Are Trying.
As more Americans turn away from the snap, crackle and sugar, the industry is trying to capitalize on our current obsession with wellness.
Low-cost clinic helps pet owners with vet bills
RSPCA Medway West launches its clinic for the pets of people with low incomes.
APEC 2026: 30 days to go until Shenzhen hosts world leaders
APEC 2026: 30 days to go until Shenzhen hosts world leaders
Angola's fuel subsidies spending projected to hit $4 billion in 2026
Angola could spend as much $4.16 billion on fuel subsidies this year, almost twice its initial projection, a senior finance official told Reuters on Friday.
States Are Stepping Up as the New Antitrust Enforcers
With the Trump administration taking a relaxed approach, attorneys general around the country have ramped up their scrutiny of mergers.
Corporate Tax Revenue Falls Even as Profits Soar Under Trump
The annual decline was about $70 billion. Companies are writing off billions in A.I. investments, taking advantage of tax cuts that President Trump signed into law.
It’s Time to Shop Medicare, and This Year, It’s Extra Important
Be sure to read your mail this fall — big changes to prescription drug plans and Medicare Advantage provider networks are coming, and could cost you more.