How major US stock indexes fared Thursday, 2/1/2024

Stocks bounced back from their worst drop since September.

The S&P 500 rose 1.2% Thursday to recover three quarters of its sharp loss from the day before. The Dow Jones Industrial Average climbed 1%, and the Nasdaq composite added 1.3%. Big Tech stocks led Wall Street in a mirror reverse of a day before.

A suite of reports suggested the economy remains solid, while pressures on inflation may be easing. The data could give the Federal Reserve more of the evidence it wants before it will deliver the cuts to interest rates that investors desire.

On Thursday:

The S&P 500 rose 60.54 points, or 1.2%, to 4,906.19.

The Dow Jones Industrial Average rose 369.54 points, or 1%, to 38,519.84.

The Nasdaq composite rose 197.63 points, or 1.3%, to 15,361.64.

The Russell 2000 index of smaller companies rose 27.08 points, or 1.4%, to 1,974.42.

For the week:

The S&P 500 is up 15.22 points, or 0.3%.

The Dow is up 410.41 points, or 1.1%.

The Nasdaq is down 93.72 points, or 0.6%.

The Russell 2000 is down 3.91 points, or 0.2%.

For the year:

The S&P 500 is up 136.36 points, or 2.9%.

The Dow is up 830.30 points, or 2.2%.

The Nasdaq is up 350.29 points, or 2.3%.

The Russell 2000 is down 52.66 points, or 2.6%.