Dow surges 800 points after historic turnaround

The Dow gained 827.87 points to settle at 30,038.72 after falling more than 500 points earlier in the day. 

Breaking a six-day losing trend, the S&P 500 increased by 2.60% to 3,669.91. At 10,649.15, the Nasdaq Composite closed the day up 2.23%.

According to SentimenTrader, Thursday saw the fourth-largest intraday turnaround from a low for the Nasdaq and the fifth-largest for the S&P 500.

The S&P 500 finished with a loss of 1,177 points, or 24.7%, for the year.

After a Thursday inflation data that was hotter than anticipated, the trend reversed. 

 While the annual core rate grew by 6.6% to its highest level since 1982, the consumer price index increased by 0.4% in September and 8.2% from this time in 2021.


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