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Complacency Doesn’t Rule

Daily Recap

Stocks were back on the offensive today, as the S&P 500 notched its biggest one-day gain in months, led by financial companies. The gains came after a rough last week, in which the Industrials suffered their steepest weekly decline since March.


At the close, the Industrials were up 127 points to 21,986. The Transports saw a much larger gain, percentage wise, rising 1.61%. Meanwhile, the Nasdaq rose 1.34% and the S&P 500 was up 1% even.


International stock markets also rallied sharply, with Japan being the only major market in the red. In Europe, the Stoxx 600 rose 1.08%, with the Europe Dow up 1.06%. In Asia, most markets saw substantial gains, though the Asia Dow rose only 0.04%. The Global Dow was up 0.65%.


Bonds in the U.S. sold off as investor risk appetite increased once again. The 10-year was recently down 9/32 to trade with a 2.23% yield. Higher yields seemed to help ... Log in or subscribe to continue reading.

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