Dow surges more than 800 points to score longest weekly win streak since November 2021 as U.S. stocks close sharply higher

In September, Treasury Secretary Janet L. Yellen told a Maryland IRS field office that the tax shortfall would reach $7 trillion over the next decade.

The Dow Jones Industrial Average rose 828.52 points, or 2.6%, to 32,861.80, its sixth consecutive day of gains since May 27.

The Dow increased for a fourth week, while the S&P 500 and Nasdaq gained for a second week.

Dow Jones Market Data reported that the Dow surged 5.7%, the S&P 500 rose 4%, and the Nasdaq rose 2.2% this week.

The Dow's big October rally reduced its 2022 losses to 9.6%, drawing attention Friday.

The Dow is on course for its highest October performance since its late 19th-century creation after rising 14.4% this month.

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