U.S. stocks climbed on Thursday, rebounding from steep losses in the previous session, as investors picked up shares after the pullback.
The Dow Jones Industrial Average rose 433.79 points to 34,021.45, while the S&P 500 jumped 1.2% to finish the day at 4,112.50. Every sector but energy ended the day in positive territory.
The Nasdaq Composite closed up 0.7% at 13,124.99 as investors tried to pick some winners in the beaten-up tech sector. Apple and Microsoft each bounced more than 1.5%.
Elon Musk’s electric car maker Tesla lost 3%. That stock has posted declines in 11 of the last 13 trading sessions and is on track to post its worst week since March 2020 with a week-to-date loss of 14.97%.
“This bull market ultimately has further to run,” said Keith Lerner, chief market strategist at Truist. “Investors who are underweight equities should look to average into the market weakness and become more aggressive.”
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