Dow Jones Surge Puts Index Within Sight of Bull-Market Territory

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(Bloomberg) — The Dow Jones Industrial Average is within reach of a big milestone as stocks surged in a buy-everything relief rally. 

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The blue-chip stock gauge gained 3.7% on Thursday — the most since May 2020 — advancing 17% from its Sept. 30 low. That’s not far from the 20% threshold that some investors say signals the beginning of a bull-market cycle. 

© Bloomberg The Dow Jones Industrial Average is up 17% since October

The Dow, which tracks the 30 most influential companies in the US, has outperformed the S&P 500 Index for six out of seven months through October amid a smaller exposure to high-flying tech stocks that have reeled from rising interest rates. The index whose components are weighted by its members’ average price as opposed to market capitalization, as is the case with the S&P 500, is down 7.2% this year, compared with a 17% loss in the 500-member gauge. 

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