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Corrections are Healthy, Even This One

Daily Recap

Stocks rallied today, building on last Friday's gains and giving us a sense of optimism that perhaps this week will see more stable prices. The gains were widespread, with nearly all sectors participating, and for once the market didn't experience a half dozen intraday reversals. 

 

Momentum built throughout the day, leaving the Industrials with a 410 point (1.70%) gain. The Transports were up a similar 1.62%, while the Nasdaq and S&P rallied 1.56% and 1.39%, respectively. Even the bond-like Utilities managed to rally, as that index gained 0.90% for the day. The only major index in the red was the VIX (thankfully!).

 

Overseas markets were also in rally mode today, with all of Europe in the green. The Stoxx 600 gained 1.17% and the Europe Dow climbed 1.37%. In Asia, mixed markets led to the Asia Dow gaining a modest 0.27%. The Global Dow Index fared better, up 1.25%.

 

Fixed income markets were little changed ... Log in or subscribe to continue reading.


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