Dow rises more than 300 points after the wild trading day

Published on: 05 Apr, 2018

U.S. stocks traded higher on Thursday as tech shares went up from last trading day. The Dow Jones industrial average rose 341 points, with Boeing and DowDuPont as the best-performing stocks. The S&P 500 gained nearly 1 percent, with energy leading eight sectors higher. The Nasdaq composite advanced 0.9 percent.

Shares of Facebook, Inc. (NASDAQ: FB) jumped 2.6 percent after CEO Mark Zuckberg said that he has not seen a noticeable change in user behavior in the wake of the Cambridge Analytica data scandal. Netflix, Inc. (NASDAQ: NFLX),, Inc (NASDAQ: AMZN) and Google, Alphabet Inc (NASDAQ: GOOGL) all rose more than 1 percent.

The Dow Jones industrial average closed up over 200 points on previous trading day on Wednesday, rallying more than 700 points from session low. Other major indexes erased losses to finish on a positive note too.

Markets have been on edge in recent sessions amid concerns of a potential trade war between China and the U.S. on Wednesday, China announced fresh tariffs on 106 U.S. products, including cars, whisky and soybeans – less than 24 hours after Trump administration issued a list of Chinese imports that it would target.

The news initially sent stocks lower before bouncing back as Trump administration tried to play down trade-war worries.

The dollar also dropped against Japanese yen on Wednesday before recovering. On Thursday, the U.S. currency traded 0.6 percent higher against the yen.

In economic news, weekly jobless claims totaled 242,000, more than the expected 225,000. Still, claims remained near their lowest levels since 1970s.


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Liying Pang



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