On Wall Street today, stocks gained widely, wiping up Week’s losses for most of the main indexes.The improvements come after the Federal Reserve hinted on Wednesday that it may begin reducing its extraordinary support measures for the economy later this year.
As of 12:45 p.m., the S&P 500 index was up 1.4 %. The Dow Jones Industrial Average increased by 557 points, or 1.6 percent, to 34,815 while the Nasdaq increased by one percent.Almost every stock in the S&P 500 index climbed. It is currently up 0.5 % for the Week’s, following a strong sell-off on Monday. The recovery is more obvious in the Dow, which is currently up 0.7 % for the Week’s after falling 1.9 % on Tuesday.
Small-company equities, which are generally a solid indicator of investor optimism about economic development, also moved into the winning column. The Russell 2000 is up 1.5 % today and 0.7% Week’s to date.Darden Restaurants, Olive Garden’s parent business, was another standout. Its shares increased by 6.3 % after reporting good quarterly earnings.