The schizophrenic week on Wall Street continued on Thursday as all three indexes surged on positive news about the American jobs market and corporate earnings.
The Dow Jones Industrial Average jumped more than 400 points, or about 4.0%. On Monday, the Dow sank 635 points – its worst day since the 2008 financial crisis. Then on Tuesday it rallied 430 points. And on Wednesday it plunged 520 points.
Optimism returned on Thursday after a report showed that the number of people seeking jobless benefits fell to a four-month low and Cisco Systems – a bellwether of the technology sector – said it expected its revenue to grow more than expected.
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