It was another impressive day for US equities. Futures were flat early today but a steady trickle of bids was the story throughout the day followed by a flash of buying late.
- S&P 500 +1.0%
- Nasdaq Comp +1.4%
- DJIA +0.6%
- Russell 2000 +0.9%
- Toronto TSX Comp +0.2%
These are the eighth consecutive gains in the S&P 500 and Nasdaq in one of the best runs since early in the pandemic.
At this point, you could argue that the rebound has run its course with the S&P 500 only 60 points from an all-time high. At the same time, you could argue that the strong rejection of lower levels is bullish, especially with the Fed primed to cut and the economy holding up.
This article was written by Adam Button at www.forexlive.com.
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