Dow closes up 423 points

Published Aug 11, 2011 at 6:00 am (Updated Nov 9, 2011)

Wall Street's wildest week since 2008 continued with another rise of 400-plus points for the Dow today. This time, stocks shot up after investors saw small signs that the economy might not be headed into another recession. Fewer Americans joined the unemployment line last week, and a technology bellwether said revenue could grow faster this quarter than analysts expected. The news pushed prices on long-term Treasurys down, and gold fell from its record high. The Dow Jones industrial average rose 423 points, or 3.9%, to close at 11,143. The S&P 500 index rose 52, or 4.6%, to 1,173. The Nasdaq composite index rose 112, or 4.7%, to 2,493. During a calm market, a 423-point move would rank as the Dow's biggest in months. During this volatile week, it's the smallest.