Stocks rallied on Wall Street Thursday as technology companies clawed back some of the ground they had lost recently.
The gains erased weekly losses for most of the major indexes, but they are all still headed for a dismal monthly finish after sliding for much of April.
On Thursday tech investors got some relief as Facebook’s parent company soared after posting strong subscriber numbers. The volatile stock is still down sharply for the year. Chipmaker Qualcomm jumped after easily beating Wall Street’s profit estimates.
The S&P 500 rose 103.54 points, or 2.5%, to 4,287.50.
The Dow Jones Industrial Average rose 614.46 points, or 1.8%, to 33,916.39.
The Nasdaq rose 382.59 points, or 3.1%, to 12,871.53.
The Russell 2000 index of smaller companies rose 33.91 points, or 1.8%, to 1,917.94.
For the week:
The S&P 500 is up 15.72 points, or 0.4%.
The Dow is up 104.99 points, or 0.3%.
The Nasdaq is up 32.23 points, or 0.3%.
The Russell 2000 is down 22.72 points, or 1.2%.
For the year:
The S&P 500 is down 478.68 points, or 10%.
The Dow is down 2,421.91 points, or 6.7%.
The Nasdaq is down 2,773.44 points, or 17.7%.
The Russell 2000 is down 327.37 points, or 14.6%.