Stock Rally Eases With Trade-Deal Hopes in Focus: Markets Wrap.
Stocks headed toward the biggest gain since November and bonds fell after Treasury Secretary Scott Bessent fueled hopes of trade deals, marking a dramatic shift in Wall Street sentiment following a selloff that chopped trillions of dollars off global markets.
While the S&P 500 pared an advance that earlier topped 4%, every major group rose on Tuesday. Some of the hardest hit companies during the recent rout jumped, with big tech leading gains. While there’s no consensus on whether shares have found a bottom, the bounce brings relief to investors rattled by intense swings.
It’s a much-needed reprieve for traders who’ve been bracing for a market crunch on a par with the pandemic and the global financial crisis. Across world markets, investors have been gripped by fears that something may break in the financial plumbing amid the cross-asset volatility, spurring speculation the Federal Reserve would need to speed up rate cuts.
Net inflows were $8 billion in the period, the fourth-largest weekly inflow based on data going back to 2008, strategist Jill Carey Hall wrote in a Tuesday research note. Institutional clients, retail traders and hedge funds were all net buyers.
Source: Finance.Yahoo