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Dow ends 826 points higher Tuesday, stocks post big back-to-back gainsExternal Link

U.S. stocks finished sharply higher on Tuesday, with the Dow rising about 826 points and posting its longest streak of back-to-back gains of more than 2% since May 2020, according to Dow Jones Market Data. The blue-chip index surge about 2.8% to end near 30,316, while the S&P 500 index rose 3.1% and the Nasdaq Composite Index finished 3.3% higher. The rally in stocks to kick off October and the year's final quarter has ignited debate about whether the bounce on Wall Street is justified, as some investors anticipate the Federal Reserve may back off its aggressive pace of rate hikes, or something other than signaling a durable bottom for stocks.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 04 Oct 2022 20:03:50 GMT
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S&P 500, Dow head for longest stretch of outsize moves since April 2020External Link

U.S. stocks are trading near their highest levels of the day heading into the final hour of Tuesday's session as the market kicks off the fourth-quarter with what are shaping up to be the biggest back-to-back gains for the Dow Jones Industrial Average in two-and-a-half years. In a testament to how hectic markets have been lately, the S&P 500 and Dow are both on track to book moves of 1.5% (in either direction) for the fifth straight session. For both benchmarks, it would represent the longest streak of such moves since April 6, 2020, just as markets were beginning to stabilize following the shock of the COVID-19 pandemic. The S&P 500 was up 2.7% at 3,775 in recent trade, while the Dow rose 2.4% to 30,180. The Nasdaq Composite advanced 2.9% to 11,127.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 04 Oct 2022 19:16:16 GMT
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U.S. oil futures settle at a nearly 3-week high on bets for a significant OPEC+ output cutExternal Link

Oil futures rose Tuesday, with U.S. prices marking their highest settlement since mid-September. Reports said the Organization of the Petroleum Exporting Countries and their allies will consider a production cut of 2 million barrels per day at their meeting Wednesday, higher than previous expectations for a 1 million-barrel reduction. November WTI crude rose $2.89, or 3.5%, to settle at $86.52 barrel on the New York Mercantile Exchange. That was the highest front-month finish since Sept. 14, FactSet data show.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 04 Oct 2022 19:04:23 GMT
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Cruise stocks lead S&P 500 in gains, as Carnival sees biggest gain in 23 monthsExternal Link

Shares of Carnival Corp. soared 13.7% in afternoon trading, to bounce off the previous session's 30-year closing low, and enough to be the S&P 500's third-biggest gainer. The two bigger gainers were fellow cruise operators, as shares of Royal Caribbean Group ran up 15.4% and Norwegian Cruise Line Holdings Ltd. hiked up 16.8%. Carnival's stock, which was headed for the biggest one-day gain since the record 39.3% gain on Nov. 9, 2020, had closed Monday at the lowest price since Oct. 15, 1992, in the wake of a hugely disappointing earnings report. The rally in the cruise stocks comes as the S&P 500 surged 2.9%, after rallying 2.6% on Monday, after closing at a 23-month low on Friday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 04 Oct 2022 18:55:14 GMT
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DeSantis to brief Biden in Florida about hurricane recovery on Wednesday, White House saysExternal Link

Florida Gov. Ron DeSantis, a likely Republican presidential contender, will brief President Joe Biden on hurricane recovery efforts when Biden visits the state on Wednesday, the White House said. DeSantis, a sharp critic of the Biden administration, will give the president "an operational briefing on the current response and recovery efforts," White House press secretary Karine Jean-Pierre told reporters. U.S. officials have vowed to make a major amount of federal disaster aid available to Florida and the Carolinas in the wake of Hurricane Ian.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 04 Oct 2022 18:15:24 GMT
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