Stocks Rise, Notching Second Straight Gain
The stock market is up because people are no longer worried about global banks and they think the Fed is going to stop increasing interest rates.
U.S. stock prices closed higher on Thursday, continuing their gains for a second consecutive day. This was boosted by waning concern about global banks, and rising hopes that the Federal Reserve will soon stop its rate increases.
The Nasdaq Composite, which is dominated by technology, rose 87.24 point, or 0.7% to 12013.47. The broad S&P 500 added 23.02 or 0.6% to reach 4050.83. The broad S&P 500 index added 23.02 points, or 0.6%, to 4050.83.
Dow Jones Industrial Average
Gained 141.43 or 0.4% to 32859.03.