Dow jumps more than 500 points, posts best day since March as earnings fuel rallyCNBC, Oct 16, 2018
Stocks rose sharply on Tuesday after the release of strong quarterly results from some of the largest U.S. companies helped the market recover from last week's sell-off.
The Dow Jones Industrial Average surged 547.87 points to 25,798.42, with UnitedHealth outperforming. The S&P 500 gained 2.1 percent to 2,809.92 as the tech and health care sectors jumped more than 2.5 percent each. The Nasdaq Composite advanced 2.9 percent to 7,645.49. The major large-cap indexes all had their best day since March. The Russell 2000 index, which tracks small-cap stocks, jumped 2.8 percent and had its best day since Nov. 9, 2016.
With Tuesday's sharp gains and following a rally on Friday, the Dow has risen 3 percent from the lows seen last week.
Morgan Stanley jumped 5.7 percent after reporting better-than-expected earnings. Goldman Sachs' profits also beat estimates, sending the stock up 3 percent. Dow-members Johnson & Johnson and UnitedHealth both posted better-than-expected earnings, sending their shares higher.
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