Stocks rebound in late-day rally on Wall Street

NEW YORK: U.S. stocks rose in a late-day rally on Thursday as investors bought stocks likely to do well in the recovery, while picking up beaten-down Apple and Tesla shares, in anticipation that the U.S. economy grows at its fastest pace in decades this year.

"It's a very confused stock market, there isn't real leadership," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. "Any reverse correlation between the Dow and Nasdaq is pretty embedded right now, and I expect it will continue," Bahnsen said."There is ongoing rotation out of tech, there's ongoing de-risking for some of the small caps."

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