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we store The index rose on Thursday due to strong posting of big banks quarterly results And jobless claims fell to the lowest levels in the COVID-19 pandemic.

The Dow Jones Industrial Average rose 500 points, or 1.4%, while the S&P 500 index rose 1.6% for its best day since July and the Nasdaq Composite Index is up 1.7% for its best session since August.

anchorthe protectionThe lastChangeChange %
Me: DJIdow jones average34873.71+495.90+1.44%
SP500S&P 5004432.78+68.98+1.58%
me: compNASDAQ Composite Index14822.295927+250.66+1.72%

Strong gains were driven by jobless claims falling to the lowest level since the COVID-19 outbreak. A separate release showed producer prices rose 8.6% year over year in September, marking the sixth consecutive record increase. Month-on-month prices increased by 0.5%.

Among stocks, Bank of America Corp reported earnings and revenue exceeded Wall Street estimates amid strong growth in its lending and stock-trading units. The bank also benefited from the release of $1.1 billion in reserves created during the pandemic.

anchorthe protectionThe lastChangeChange %
bacBank of America Corp.44.55+1.37+3.17%
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Wells Fargo & Co.’s quarterly profit jumped 59%, fueled by the release of funds set aside for losses during the pandemic. Earnings and sales both topped analysts’ expectations.

anchorthe protectionThe lastChangeChange %
WFCWells Fargo & Company45.09-0.95-2.07%

Morgan Stanley booked stronger-than-expected results as its wealth management division added a record amount of assets.

anchorthe protectionThe lastChangeChange %
M / sMorgan Stanley100.34+1.79+1.82%

Citigroup Inc. Earnings and sales exceeded estimates as the release of debt loss reserves and strong equity trading provided a lift.

anchorthe protectionThe lastChangeChange %
CCitigroup, Inc.70.39+0.12+0.18%

Elsewhere on the earnings front, Domino’s Pizza Inc. reported an unexpected drop in US same-store sales.

anchorthe protectionThe lastChangeChange %
DPZDomino’s Pizza, Inc.487.00+0.02+2.10%

UnitedHealth Group Inc. raised its full-year profit outlook due to strong subscription growth in its insurance business from both commercial and Medicare and Medicaid plans.

anchorthe protectionThe lastChangeChange %
uhhUnited Health Group, Inc.419.35+15.50+3.84%

Meanwhile, West Texas Intermediate crude to oil companies including Chevron Corp, ExxonMobil Corp and Halliburton Co climbed 79 cents to $81.23 a barrel.

anchorthe protectionThe lastChangeChange %
CVXChevron Corp.108.72+1.00+0.93%
XOMExxon Mobil Corp.61.94+0.87+1.43%
thinghalliburton company24.70+0.19+0.79%

Miners such as Barrick Gold Corp and Newmont Corp added to Wednesday’s gains as gold rose by $4 to $1,798.70 an ounce.

anchorthe protectionThe lastChangeChange %
SleepBarrick Gold Corp.19.655+0.40+2.05%
NoNewmont Corp.57.70+1.31+2.33%

In other news, shares of Deere & Company were in focus as more than 10,000 workers at 14 US facilities went on strike over wages and benefits.

anchorthe protectionThe lastChangeChange %
Fromdeer and company330.03+1.22+0.37%

Electric truck startup Lordstown Motors Corp. named Adam Kroll, a former investment banker who most recently served as chief administrative officer at hydrogen-powered commercial vehicle maker Hyzone Motors, as its new head of finance.

anchorthe protectionThe lastChangeChange %
RideLordstown Motors5.16-0.07-1.34%

Most of the gains were in overseas markets.

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In European markets, Britain’s FTSE 100 was up 0.85%, Germany’s DAX 1.2% and France’s CAC 40 by 1.22%.

In Asia, Japan’s Nikkei 225 rose 1.46% while China’s Shanghai Composite Index slipped 0.1%. Hong Kong’s Hang Seng Index closed on a holiday.