Breaking News
Black Friday SALE: Up to 54% off InvestingPro! Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Wall St. rallies; S&P 500 posts best day since August

Stock MarketsOct 03, 2014 05:53PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
3/3 © Reuters Traders work on the floor of the New York Stock Exchange 2/3

By Caroline Valetkevitch

NEW YORK (Reuters) - The S&P 500 posted its best day since August on Friday following a stronger-than-expected September U.S. jobs report that bolstered the outlook for the U.S. economy.

Despite the rally, however, major indexes ended down for the week, with the first diagnosis of Ebola in a patient in the United States and protests in Hong Kong among the main catalysts for sharp selling earlier in the week.

The Labor Department reported that U.S. non-farm payrolls rose by 248,000 last month and the jobless rate fell two-tenths of a point to 5.9 percent.

"There were a number of fears in the market, and the market had been giving up a lot of its gains. I think the jobs report took away a lot of the near-term concerns about the pace of the U.S. economy's (growth)," said Robbert Van Batenburg, director of market strategy at Newedge USA LLC in New York.

A Reuters survey on Friday showed most of Wall Street's top bond firms still see the Federal Reserve starting to raise interest rates no later than June of next year.

All 10 S&P sectors ended in positive territory, though the S&P energy index <.SPNY> was the day's weakest and ended barely higher following further declines in oil prices . The energy index was down 3.8 percent for the week.

Financial and healthcare shares were among the day's biggest positives. The Dow Jones transportation average (DJT) also rallied, ending up 2.1 percent, its biggest daily percentage gain since March, as airline stocks jumped. Shares of Delta Air Lines (N:DAL) rose 4.7 percent to $36.95.

The Russell 2000 index <.TOY> rose 0.8 percent, but was down 1.3 percent for the week, its fifth straight week of losses.

The Dow Jones industrial average (DJI) rose 208.64 points, or 1.24 percent, to 17,009.69, the S&P 500 (SPX) gained 21.73 points, or 1.12 percent, to 1,967.9 and the Nasdaq Composite (IXIC) added 45.43 points, or 1.03 percent, to 4,475.62.

For the week, the Dow was down 0.6 percent, the S&P 500 was down 0.8 percent and the Nasdaq was down 0.8 percent.

The largest percentage gainer on the New York Stock Exchange was Zendesk INC (N:ZEN), which rose 16.93 percent to $25.55, while the largest percentage decliner was Cliffs Natural Resources (N:CLF), down 16.80 percent at $8.32.

Among the most active stocks on the NYSE were Rite Aid (N:RAD), up 0.80 percent at $5.03 and Brazil's Petrobras (N:PBR), up 4.33 percent to $13.97.

On the Nasdaq, Apple (O:AAPL), down 0.3 percent to $99.62, and Yahoo (O:YHOO), up 1.3 percent at $41.03, were among the most actively traded.

Advancing issues outnumbered declining ones on the NYSE by 2,067 to 989, for a 2.09-to-1 ratio on the upside; on the Nasdaq, 1,776 issues rose and 895 fell for a 1.98-to-1 ratio also favoring advancers.

The benchmark S&P 500 index posted 14 new 52-week highs and five new lows; the Nasdaq Composite recorded 36 new highs and 54 new lows.

About 6.6 billion shares changed hands on U.S. exchanges, compared with the 7 billion average for the last five sessions, according to data from BATS Global Markets.

(Editing by James Dalgleish)

Wall St. rallies; S&P 500 posts best day since August

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email