Stocks rise, rebounding from steep 2-day sell-off
(CNBC) Stocks rose on Thursday, recovering some of the losses from a steep two-day sell-off amid increasing expectations that the Federal Reserve will cut rates later this month.
The Dow Jones Industrial Average closed 122.42 points higher, or 0.5% at 26,201.04. The S&P 500 gained 0.8% to 2,910.63 while the Nasdaq Composite jumped 1.1% to 7,872.26.
Tech stocks led the way higher. Facebook rose 2.7% as fellow “FANG” stock such as Alphabet and Amazon gained 1% and 0.7%, respectively. Apple closed 0.9% higher.
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