Stocks rebound over 400 points as tech makes comeback
Former Chrysler CEO Bob Nardelli discusses the release of corporate earnings and the recent downturn in the U.S. stock market.<br>
Stocks rebounded Thursday, with the Dow rising more than 400 points, as investors celebrated a series of strong results from tech giants including Microsoft and Twitter, as well as auto makers Ford and Tesla.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 38386.09 | +146.43 | +0.38% |
| SP500 | S&P 500 | 5116.17 | +16.21 | +0.32% |
| I:COMP | NASDAQ COMPOSITE INDEX | 15983.084278 | +55.18 | +0.35% |
| MSFT | MICROSOFT CORP. | 402.25 | -4.07 | -1.00% |
| TWTR | n.a. | n.a. | n.a. | n.a. |
| F | FORD MOTOR CO. | 12.75 | -0.04 | -0.31% |
| TSLA | TESLA INC. | 194.05 | +25.76 | +15.31% |
This helped calm investors after the Dow Jones Industrial Average fell over 600 points on Wednesday, as the VIX volatility index, or "fear gauge," gained 22 percent to its second-highest level of the year.
The Dow rallied 401.13 points, or 1.63 percent, to 24,984.55. The S&P 500 gained 49.47 points, about 1.8 percent, to 2,705.57. The Nasdaq Composite jumped 209.94 points, or 2.95 percent, to 7,318.34.
The big focus after the closing bell was Amazon, shares slipped after third-quarter sales disappointed and its forecast for sales and operating income fell short. As for Google, profits execeed analyst expectations while revenue and ad revenue, jumped from the year-ago period.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 180.96 | +1.34 | +0.75% |
| GOOGL | ALPHABET INC. | 166.15 | -5.80 | -3.37% |
On the economic calendar, traders digested the latest weekly jobless claims, which rose by 5,000. Pending home sales snapped back after four-month losing streak.
Commodities were mixed Thursday.
U.S. stocks posted sharp losses Wednesday, reflecting concerns over corporate profit outlooks and geopolitical tensions.
FOX Business’ Ken Martin contributed to this article