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?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US, global stocks fall after IMF cuts economic forecastNEW YORK (AP) — Stocks fell in morning trading on Wall Street Tuesday as global fears about a looming recession were stoked by dour forecast from the International Monetary Fund. The S&P 500 fell 1% as of 10:16 a.m.
Source: AP - 🏆 728. / 51 Read more »
Stocks tumble globally on raft of economic, political worriesMSCI's global index of stocks hit its lowest level in almost two years on Tuesday while oil prices sank on fears about the potential for a global recession as central banks rapidly increase interest rates in an effort to tame inflation.
Source: Reuters - 🏆 2. / 97 Read more »
Where stocks are finding some support ahead of Thursday’s inflation reportFor as fragile as things look, the stock market hasn't found many sellers near the year-to-date lows the past couple of days. Obviously the data got leaked to Wall St. 😉 Next best thing to playing and winning is playing and losing.😁 michaelsantoli Why are you selling the CPI Kool-Aid? It’s a lagging indicator it’s ridiculous for us to even give it any attention despite the psycho logic of this Fed. Things are going start to unravel here. CPI the least of the problems.
Source: CNBC - 🏆 12. / 72 Read more »
Stocks dive, dollar rallies as dazed traders gird for inflation dataAsian stocks sank again Wednesday while the dollar held gains against the yen and sterling as the volatility that has characterised markets for most of the year showed no sign of letting up.
Source: YahooNews - 🏆 380. / 59 Read more »
Asian stocks moving lower in wake of latest volatile session on Wall StreetJapan's yen hits 24-year low against the U.S. dollar.
Source: MarketWatch - 🏆 3. / 97 Read more »
These are the Dow stocks to buy and sell as rates surgeThe 10-year Treasury yield has been retesting a key 4% level since breaking above it last month for the first time since 2008.
Source: CNBC - 🏆 12. / 72 Read more »