The stock market got a boost Thursday from a combination of strong corporate earnings and encouraging economic reports. Caterpillar and 3M were among the companies posting results that impressed investors. Hiring in the U.S. remains solid and a survey of businesses in Europe suggested that the region may avoid slipping back into recession.
The Dow Jones industrial average rose 216.58 points, or 1.3 per cent, to 16,677.90.
The S&P 500 gained 23.71 points, or 1.2 per cent, to 1,950.82.
The Nasdaq composite climbed 69.95 points, or 1.6 per cent, to 4,452.79.
For the week:
The Dow is up 297.49 points, or 1.8 per cent.
The S&P 500 is up 64.06, or 3.4 per cent.
The Nasdaq has added 194.35 points, or 4.6 per cent.
For the year:
The Dow is up 101.24 points, or 0.6 per cent.
The S&P 500 index is up 102.46 points, or 5.5 per cent.
The Nasdaq is up 276.20 points, or 6.6 per cent.