S&P 500 exits bear market as stocks close higher
U.S. stocks rose Thursday, with the S&P 500 closing above the threshold that marks an exit from a bear market. Stocks were buoyed following a rise in weekly jobless claims that reinforced expectations the Fed will hold rates steady next week, analysts said. The S&P 500 rose around 26 points, or 0.6%, to close just shy of 4,294, according to preliminary figures. A close above 4,292.44 meets the criteria for exiting a bear market, marking a 20% rise from the benchmark's October closing low. The Dow Jones Industrial Average rose around 169 points, or 0.5%, while the Nasdaq Composite jumped 1%.
-William Watts
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June 08, 2023 16:08 ET (20:08 GMT)
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