Wall Street rebounded Thursday to claw back most of its sharp drop from the prior day, which was its first big step backward since a rally began in late October.
The S&P 500 climbed 1% and is back within 1% of its all-time high, a day after its worst tumble in nearly three months. The Dow Jones Industrial Average rose 322 points, or 0.9%, and came close to setting a record for the sixth time in the last seven days. The Nasdaq composite jumped 1.3%.
Micron Technology leaped 8.6% for one of the market’s biggest gains after reporting stronger results for the latest quarter than analysts expected and saying it sees business conditions improving throughout its fiscal year.
CarMax rose 5.2% after it beat profit expectations despite what it called “persistent widespread pressures in the used car industry.” And cruise operator Carnival steamed 6.2% higher after reporting better quarterly results than expected. – AP
