Wall Street ends higher after shaking off a wobbly start

U.S. stocks shook off an early slide and closed broadly higher Thursday as the market steadied after its worst drop in more than four months. The Standard & Poor’s 500 index rose 1.2%, bouncing back from a drop of 0.3% in the early going. Traders welcomed encouraging data on the pace of layoffs and how powerfully the economy rebounded during the summer from its coronavirus-induced coma. Economists warn big challenges still lie ahead, though. The S&P 500 was coming off a 3.5% tumble Wednesday on worries the worsening pandemic will drag down the economy and corporate profits again. A strong rebound in technology sector stocks helped power the rally ahead of widely anticipated quarterly...