Stocks Rally After Record 7.1 Million Job Openings Report, Dow Jones Closes Over 500 Points

By  //  October 16, 2018

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Nasdaq Composite climbed 214.75 points

ABOVE VIDEO: Stocks rallied Tuesday, with a positive stream of earnings driving investors’ sentiment, along with a record 7.1 million job openings as released by the Bureau of Labor Statistics.

(FOX BUSINESS) – Stocks rallied Tuesday, with a positive stream of earnings driving investors’ sentiment, along with a record 7.1 million job openings as released by the Bureau of Labor Statistics.

The Dow Jones Industrial Average rallied 547.87 points, or 2.17 percent, to 25,798.42.

The broader S&P 500 rose 59.13 points to 2,809.92, as all 11 sectors jumped led by technology names. The Nasdaq Composite climbed 214.75 points, about 2.9 percent, to 7,645.49.

Quarterly results released Tuesday included Goldman Sachs, UnitedHealth and Johnson & Johnson, which all surpassed expectations. BlackRock reported better-than-expected profits, but sales were hit as investors cut their portfolio risk.

With Tuesday’s Dow jump, the benchmark of 30 stocks has recouped all of the losses from last week’s volatility in which the benchmark lost 831 points during one session.

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