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Dow rises massive 748.97 points or 2.5% on Friday 21 October 2022

Stocks closed higher on Wall Street Friday, notching sizable weekly gains for major indexes.

October 22, 2022
By The Associated Press
22 October 2022

Stocks closed higher on Wall Street Friday, notching sizable weekly gains for major indexes.

The benchmark S&P 500 rose 2.4% Friday, while the Dow Jones Industrial Average and the Nasdaq also gained ground. Social media companies were broadly lower after Snapchat’s parent company issued a weak outlook and the Washington Post reported that Elon Musk plans to slash about three-quarters of the payroll at Twitter after he buys the company.

The yield on the two-year Treasury note fell to 4.49% on hopes that the Federal Reserve might consider slowing down its future rate increases after making another big hike next month.

On Friday:

The S&P 500 rose 86.97 points, or 2.4%, to 3,752.75.

The Dow Jones Industrial Average rose 748.97 points, or 2.5%, to 31,082.56.

The Nasdaq rose 244.87 points, or 2.3%, to 10,859.72.

The Russell 2000 index of smaller companies rose 37.85 points, or 2.2%, to 1,742.24.

For the week:

The S&P 500 is up 169.68 points, or 4.7%.

The Dow is up 1,447.73 points, or 4.9%.

The Nasdaq is up 538.33 points, or 5.2%.

The Russell 2000 is up 59.84 points, or 3.6%.

For the year:

The S&P 500 is down 1,013.43 points, or 21.3%.

The Dow is down 5,255.74 points, or 14.5%.

The Nasdaq is down 4,785.26 points, or 30.6%.

The Russell 2000 is down 503.07 points, or 22.4%.

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