Dow rallies 500 points as stocks rebound from inflation fears
CNN
Stocks are rallying sharply on Thursday with the Dow gaining some 500 points mid-morning. Worries about sudden spikes in inflation, which weighed on the market at the start of the week, were brushed off in favor of a rebound.
The Dow (INDU) rose 1.5%, or 500 points, while the S&P 500 (SPX) was up 1.4%. The Nasdaq Composite (COMP), which booked the biggest losses over the past few days, was up 1.3%. All week, inflation fears have put a damper on the market. Even though some price increases are a good sign for the economic recovery, investors worry that sudden spikes from the reopening could force the Federal Reserve to change its ultra-loose monetary policy stance. And higher interest rates would be bad for stocks.
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