Stocks Rally on Fed Survey, Earnings (Largest Dow jump since 2003)
Reuters  | 4-21-2005
 

NEW YORK (Reuters) - U.S. stocks surged on Thursday, with the Dow gaining more than 200 points, as a regional Federal Reserve factory output survey eased worry about slowing economic growth and cell phone makers including Motorola gave strong earnings outlooks.

For the Dow, it was the biggest point rise in a day since April 2, 2003, when the average gained 215.2 points.

Based on the latest available data, the blue-chip Dow Jones industrial average (DJI) was up 205.87 points, or 2.06 percent, to finish at 10,218.23. The broad Standard & Poor's 500 Index (SPX) was up 22.40 points, or 1.97 percent, to end at 1,159.90. The tech-laced Nasdaq Composite was up 48.65 points, or 2.54 percent, to end at 1,962.41.