US stocks finish at the highs in biggest rally in five months

US stocks rally 2%

  • S&P 500 up 59 points (or 2.1%) to 2803
  • Nasdaq up 2.7%
  • DJIA up 2.1%
  • Toronto TSX up 0.8%
Is this the start of a turnaround or a dead-cat bounce? Who knows but that’s a big rally. The index erased a week of declines in a single day. I think the optimistic comments about getting a deal from Lopez-Obrador were the main driver but the market also liked a slight dovish slant from Powell.
Technically, the S&P 500 reclaimed the 200-day moving average, the late-March low and the May low… all in one day.
US stocks rally 2%