Dow jumps more than 700 points, closes nearly 2.5% higher in end to rally week

The Dow on Friday gained over 700 points throughout the day’s trading, continuing an unexpected rally streak that began at the beginning of the week and saw notable gains amid broader economic turmoil.

The index closed at just over 31,000 at the Friday bell, having risen nearly 750 points throughout the day as investor confidence rose slightly.

The modest rise came amid persistent concerns of a looming recession, a fear that has rocked markets worldwide as analysts have warned of a highly likely coming downturn. 

The Dow itself has been on an effectively nonstop downturn for the entirety of the year, having peaked on Dec. 31 of last year at around 36,300 before beginning a decline through most of 2022. 

A rally that began in mid-summer was reversed by early August as sky-high inflation persisted and outlooks for the next year of economic activity grew increasingly pessimistic.