Stock-market investors can be forgiven for feeling a little dizzy after a day that saw stocks plunge in reaction to another round of hotter-than-expected inflation data only to surge higher and extend gains into the closing bell.
What gives — are investors suddenly OK with inflation? Not likely. But market experts cited a number of factors that set the stage for a bounce. More germane, on a percentage basis, the 5.16% swing between the Dow’s intraday high and low was the largest spread since April 6, 2020. The last time the Dow gained at least 3% through the close on a day when it was down as much as 1.88% was on Aug. 9, 2011.
That may have left the market open to some short covering after the initial kneejerk reaction, analysts said.
Isn't inflation when prices go up?
I’m rich
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