NEW YORK — Stocks climbed Thursday as major indexes extended a rebound into a third day. The dollar dropped, a change that provided a relief to big exporters like industrial and technology companies.
The U.S. stock market continued its gradual rebound from a plunge that lasted almost the entire month of October, and many of the biggest gains Thursday came from stocks that struggled badly last month like chipmakers and other technology companies and smaller, domestically-focused companies.
Strong earnings from U.S. companies have helped the market recover its footing over the last three days. Chemicals maker DowDuPont jumped after reporting a strong quarter, as did Arm & Hammer maker Church & Dwight and insurer AIG. Apple also climbed prior to releasing its quarterly report.
The S&P 500 index added 28.63 points, or 1.1 percent, to 2,740.37. The Dow Jones Industrial Average picked up 264.98 points, or 1.1 percent, to 25,380.74. The Nasdaq composite climbed 128.16 points, or 1.8 percent, to 7,434.06. The Russell 2000 index jumped 33.57 points, or 2.2 percent, to 1,544.98.
Stocks fell sharply from early October through the last few days of the month, a skid that briefly wiped out their gains for the year. After a rally over the last two days, the S&P 500 is up 2.5 percent in 2018.
During the sell-off, high-growth companies like technology and industrial companies and smaller stocks were hit especially hard as investors worried about various factors that could slow their growth and their profits. Those included the U.S.-China trade fight, rising interest rates that could make it more expensive to borrow money, and higher costs for fuel and other necessities.
Chemicals maker DowDuPont surged 8.1 percent to $58.27 after its third-quarter profit surpassed analysts’ estimates. The company said sales grew in all regions, with strong gains in Asia-Pacific