us stocks opened higher friday building on a bounce in the previous session that marked whats been called one of the craziest market days in history as investors weighed a round of results from big banks with third quarter earnings reporting season getting under way on thursday the dow erased a plunge of nearly 550 points to end 828 points higher while the sp 500 bounced back from a loss of more than 2 to end 26 higher and the nasdaq composite jumped 22 the dows 28 rise was the largest oneday gain since nov 9 2020 analysts cited a number of factors to explain the huge rise in stocks on thursday including technical and positioning considerations after a steep selloff that had seen the sp 500 index tumble for six sessions in a row to end wednesday at its lowest since november 2020 among the most frequent explanations is that the most pessimistic of all possible scenarios were built into prices a 75point rate hike at the next two meetings said alex kuptsikevich senior market analyst at fxpro in a note after this market participants turned their attention to substantial discounts to prices from their highs with a relatively healthy economy that continues to create jobs and raise wages but caution still prevails on friday despite octobers notoriety as a bear market killer and an auspicious intraday move investors should maintain a certain degree of caution a real change in trend requires a shift in fundamentals and those changes are still not easy to identify kuptsikevich said rick rieder the chief investment officer for fixed income at blackrock called thursdays gyrations one of the craziest in history coming after data showing us september inflation running at a hotterthanexpected pace the sp 500 had fallen for five consecutive sessions ahead of the cpi report this snapback seems like the product of protective hedges being unloaded in the options market which generated enough upside momentum to trigger a broader wave of shortcovering said marios hadjikriacos senior investment analyst at xm see why stocks scored a historic bounce after another hot inflation report blackrocks rieder advised investors to consider parking their money in shortterm bonds a point recently echoed by hedgefund legend ray dalio shares of jpmorgan chase  cojpm jumped more than 5 in premarket trade after the bank beat wall street targets for earnings and revenue analysts were also weighing results from wells fargo  cowfc and morgan stanley ms and citigroup incc  investors were also monitoring developments in the uk where nowformer chancellor of the exchequer kwasi kwarteng stepped down at the behest of prime minister liz truss yields on uk government bonds spiked after kwarteng presented a budget plan that included large tax cuts in late september sparking a crisis that required the bank of england to step in with an emergency buying program uk bond yields have dropped on friday on indications many of the planned tax cuts will be reversed data showed us retail sales were unchanged in september coming in below forecasts for a 03 rise excluding autos sales rose 03 friday will also see the october release of the university of michigan consumer sentiment report due for release fed gov lisa cook also is scheduled due to speak also seebeyond meat coo douglas w ramsey is leaving the company after being suspended for allegedly biting a mans nose