Stock market has best day of the year; Dow up 188
THE ASSOCIATED PRESS February 6, 2014 9:00AM
Encouraging news about the job market and strong earnings from Disney helped drive U.S. stocks sharply higher in afternoon trading Thursday. The market was rebounding a day after posting small losses. | AP Photo
Updated: February 6, 2014 4:07PM
NEW YORK (AP) — The stock market had its best day this year, nearly erasing the steep losses from early this week.
The gains came after encouraging news on the U.S. job market and Disney and other companies reported solid earnings.
The Dow Jones industrial average jumped 188 points, or 1.2 percent, to close at 15,628 Thursday.
The Standard & Poor’s 500 index rose 21 points, also 1.2 percent, to 1,773. It was the best gain for both indexes since Dec. 18. Both are still down about half a percent for the week following a steep drop on Monday.
The Nasdaq composite gained 45 points, or 1.2 percent, to 4,057.
Disney jumped 5 percent after the media company reported earnings that beat analysts’ estimates, thanks partly to its box-office hit “Frozen.”