Dow Jumps More Than 800 Points as Fears of Interest-Rate Hikes Subside

Stocks rallied on Friday after fresh economic data tempered investors’ expectations of steep Federal Reserve interest-rate hikes, as major market indexes notched their first weekly gains after three consecutive weeks of losses.  

The Dow Jones Industrial Average surged 823.32 points, or 2.7%, to close at 31500.68. The S&P 500 climbed 116.01, or 3.1%, to 3911.74, in its biggest one-day gain in percentage terms in more than two years. The technology-heavy Nasdaq Composite added 375.43, or 3.3%, to 11607.62.