Dow momentarily turns positive for the week as stocks stage rebound in turbulent trading stretch

The Dow Jones Industrial Average DJIA, +1.01% rallied midday Thursday, momentarily pushing the blue-chip index into positive territory for the week, amid a rocky, tariff-stricken period for Wall Street. The Dow DJIA, +1.01% punched above 25,942.37 on an intraday basis, marking the dividing line between a positive week and negative 5-day stretch for the index. The rally for the Dow, touching an intraday peak at 25, 946.97, also comes amid gains for the S&P 500 index SPX, +1.23% and the Nasdaq Composite COMP, +1.30% also putting those benchmarks on track to wipe out firm weekly declines after being buffeted by trade-war fears. The S&P 500 index was up 1.4% at 2,889, with a weekly gain of about 0.3% in midday dealings, while the Nasdaq was up 1.5% at 7,941, on pace for a weekly advance of just under 0.3%. The Dow’s move was partly powered by a rally in shares of Walmart Inc. WMT, +2.47% The U.S. stock benchmarks were swept higher after a batch of economic data came in better than expected, including a measure of manufacturing activity in the Philadelphia area and readings of jobless claims and housing starts. Investors dialed back hopes for a trade deal between Washington and Beijing after President Trump signed an executive order Wednesday allowing the U.S. to ban telecommunications network equipment, a move officials said targeted Chinese technology companies Huawei and ZTE. That came a day after the Trump administration postponed a decision on whether to impose tariffs on autos, sparking a small market rally for U.S. and European stocks.

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