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Aug. 10, 2022, 4:09 p.m. EDT

U.S. stocks close at highest level since May as Nasdaq exits bear-market territory

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By Joseph Adinolfi

After four days in the red, U.S. stocks closed on Wednesday at their highest levels since early May following a July inflation report that came in slightly cooler than expected, sparking a sharp rally in both stocks and bonds. The S&P 500 /zigman2/quotes/210599714/realtime SPX -1.02% gained 87.75 points, or 2.1%, to close at 4,210.24, marking the first time the U.S. equity benchmark closed above 4,200 since May 4. The Dow Jones Industrial Average gained 535.43 points, or 1.6%, to finish at 33,309.32. The Nasdaq Composite /zigman2/quotes/210598365/realtime COMP -0.68% advanced 360.88 points, or 2.9%, to 12,854.80, exiting bear-market territory after 107 trading sessions. The Dow also exited correction territory. A bear market is typically seen as a drop of 20% or more from a recent high, while a correction is defined as a drop of 10% or more from a recent high.

/zigman2/quotes/210599714/realtime
US : S&P US
3,744.52
-38.76 -1.02%
Volume: 2.22B
Oct. 6, 2022 5:38p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
11,073.31
-75.33 -0.68%
Volume: 4.48B
Oct. 6, 2022 5:16p
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