Stocks Gain for Third Straight Week
Stocks notched their third straight winning week as investors shrugged off mixed economic reports and some downbeat outlooks for corporate earnings.
For the week, the Dow Jones industrial average and the Standard & Poor’s 500 index gained 1.5%. The technology-heavy Nasdaq composite index surged 3.4%. The string of weekly gains follows a six-week losing streak that drove the major indexes to five- and six-year lows.
During the recent streak, the Dow industrials have added almost 1,200 points, although the widely watched market barometer is down 15.7% for the year and is on track for its third straight yearly loss.