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Home / Business / stocks rise, Dow jumps more than 800 points in the last two days of the harsh and volatile October

stocks rise, Dow jumps more than 800 points in the last two days of the harsh and volatile October



Wednesday's share price rose sharply for the second year in a row as strong gains from General Motors and Facebook lifted sentiment. However, the large averages were still at the pace of losses in October.

6, when it fell 5.5 percent.
  • The S & P 500 lost 6.3 percent October had the worst one-month performance since September 2011, when it slumped 7.2 percent.
  • The Nasdaq has fallen 8.6 percent and has reached its largest monthly pullback since November 2008.
  • "The earnings history is between very good and pretty good," said Craig Birk, CIO at Personal Capital. "There is also some optimism that a breakthrough in trading could happen."

    "The decline this month came from nowhere, which is usually a sign of a correction, not a bear market," he said. "Usually a bear market rolls slower."

    General Motors' shares rose 8.5 percent after reporting quarterly earnings slightly ahead of expectations. The company said it sold fewer cars in the third quarter, but at a higher price, which increased the bottom line.

    Facebook shares rose 4.7 percent after better-than-expected earnings on Tuesday. CEO Mark Zuckerberg said Facebook will invest heavily in its business during the company's next year's earnings talks. He also said that Facebook plans to build products like Facebook Watch and Instagram TV.

    The stock's rise on Wednesday led Amazon, Apple, Netflix and Alphabet to rise.

    Stock prices this month have been under pressure from renewed concern about rising interest rates and US-China trade relations, as well as worries about slowing corporate earnings growth. The tech stocks have also had a great deal of success, putting the broader indices under pressure. Facebook's profit on Wednesday helped mitigate these losses, but the sector was still down 8 percent in October.


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