Why the Stock Market Rebounded; Dow, Nasdaq, S&P 500 Up; Japan’s Nikkei Soars 10%; Palantir, Nvidia, Apple, More Movers; Recession Fears
What crash? The Dow was having its best day of the year as traders breathed a sigh of relief following yesterday’s selloff.
The Dow was up 742 points, or 1.9%, which would be its largest percent gain since June 2023, according to Dow Jones Market Data. The S&P 500 was up 2.4%, which would be its best day since Nov. 30, 2022. The Nasdaq Composite was up 2.24%, which would be its best day since July 31.
The CBOE Volatility Index, or VIX, was down to 24.64, which signals heightened volatility in the market, but it’s far lower than the extreme volatility seen on Monday. The VIX soared as high as 65.73 as the major indexes swooned yesterday.
Today, the stock market was rallying across the board. While worries persist that the economy is showing signs of slowing, market participants seem to think yesterday’s stock market reaction to recent data was overblown.
The market is in the midst of a historically weak month, though, so expect a bumpy road ahead.
