Dow jumps by more than 300 points

Friday, May 14, 2021

U.S. stocks jumped on Friday, rebounding for a second day after starting the week with big losses, CNBC reports.

The Dow Jones Industrial Average climbed by 320 points. The S&P 500 gained by 1.1 percent. The tech-heavy Nasdaq Composite, the relative underperformer for the week, snapped back by 1.3 percent.

Stocks advanced even after data showed consumer purchases slowed down last month. Advance retail sales was flat for April, the Commerce Department reported Friday. That compared to the Dow Jones estimate of a 0.8 percent gain and a 9.8 percent surge in March.