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.
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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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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.
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