Wednesday, January 26th, 2022
Home »Stocks and Bonds » World » Friday’s afternoon trade: Stocks jump; Apple rises, HP Inc falls
Wall Street jumped on Friday as moderate jobs growth in September offered relief from a spate of dismal economic data this week that has rankled markets and fuelled concerns that the world's largest economy may be sliding into a recession.

A rally in technology stocks led by Apple Inc also helped lift the benchmark indexes at the end of a volatile week. After losing about 3% over Tuesday and Wednesday, the S&P 500 and Dow were on course for their best session in a month.

Apple Inc shares rose 2.8% after a report that the company would ramp up production of iPhone 11 models.

At 2:31 p.m. ET, the Dow Jones Industrial Average was up 1.12% at 26,495.69 points, while the S&P 500 gained 1.11% to 2,943.02.

The Nasdaq Composite jumped 1.14% to 7,961.77.

HP Inc tumbled 10.1% after the computer maker said it would cut up to 16% of its workforce as part of a restructuring plan that would result in an overall charge of $1 billion.

Copyright Reuters, 2019


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