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Wednesday, February 28, 2024

Dow rise amid European confidence

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The Dow Jones industrial average closed up 249 at 11,255

US stocks have started December with a jump. The Dow Jones industrial average rose 249 points, its biggest gain since September 1.

An encouraging employment report and hopes that Europe’s debt crisis may ease boosted major indexes on Wednesday, erasing nearly two weeks of losses.

All 10 industry groups that make up the Standard and Poor’s 500 index rose, led by energy, industrial and technology companies.

According to preliminary calculations, the Dow Jones industrial average was up 249, or 2.3%, to 11,255. The S&P 500 rose 25, or 2.2%, to 1,206. The Nasdaq composite rose 51, or 2%, to 2,549.

Gaining stocks outpaced falling ones four to one on the New York Stock Exchange. Volume was 1.1 billion shares.

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