Stocks rose sharply in volatile trade late Thursday morning, erasing a steep plunge seen after a rise in the core reading of the consumer price index sparked an across-the-board tumble. The Dow Jones Industrial Average DJIA, +1.86% was up 466 points, or 1.6%, after a drop of nearly 550 points, or 1.
8%, in early activity. The S&P 500 SPX, +1.72% rose 1.4% as it erased a loss of 2.39%, while the Nasdaq Composite rose 1.1% after dropping as much as 3.15%. If gains hold, the Dow would see its biggest comeback in percentage terms since May 20, while the S&P 500 and Nasdaq were set for their biggest comebacks since Feb. 24.
They're so clearly such a bunch of gamblers with no relationship with reality.
Short covering rallies look just like this…Rocket fuel.
Incredibly insightful reporting here!
Why up so much after suck a big cpi plunge? Can you answer that? Is there a real reason? Does anyone actually know why?
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