Stocks Jump as Disappointing Data Cool Tapering Worries
Published May 30, 2013
The markets advanced solidly on Thursday after a round of weaker-than-expected economic data helped ease tensions about the Federal Reserve paring back its bond-buying program.
As of 12:16 p.m. ET, the Dow Jones Industrial Average climbed 67.9 points, or 0.45%, to 15371, the S&P 500 gained 9.7 points, or 0.59%, to 1658 and the Nasdaq Composite advanced 27.1 points, or 0.78%, to 3495.
It's been a manic week for Wall Street. Strong data ignited a rally Tuesday, but then fears that an accelerating recovery will cause the Federal Reserve to slow its easing program sparked an equally large selloff Wednesday.