US closes strong as Dow leaps over 800 points

Friday, 28. October 2022 22:00

Major United States indexes finished the Friday session off on a strong note, with the Dow Jones jumping over 2.5% and the Nasdaq over 3%. Data reports, alongside earnings, seemingly prompted the market rally. Consumer confidence in October saw steady monthly growth, while Apple’s upbeat quarterly results added to the positive sentiment.

Meanwhile, traders are bracing for the Federal Reserve’s interest rate hike decision, scheduled for next week, as the central bank continues to fight raging inflation. The annual core PCE index came in slightly higher than estimated.

The Dow Jones surged 2.59% or 828 points at the closing bell, with Intel jumping 10.66%. At the same time, S&P 500 soared 2.46%, while the Nasdaq 100 skyrocketed 3.17% or 354 points at the close, as DexCom pulled both the index up 19.38%. The euro was flat against the dollar at 3:59 pm ET, selling for 0.99649.

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