Dow, S&P cut their losses in final hour of trading1 Sep 2022 21:22
Recovery day tomorrow :)
Dow, S&P cut their losses in final hour of trading
Shortly after the Dow Jones Industrial Average moved into positive territory late Thursday, the S&P 500 followed, eking out a slight gain while the Dow moved higher by 0.3%.
S&P 500 turns positive
Chart
Line chart with 346 data points.
The chart has 1 X axis displaying Time. Range: 2022-09-01 09:30:00 to 2022-09-01 15:15:00.
The chart has 1 Y axis displaying values. Range: 3900 to 3960.
10:00 am
12:00 pm
2:00 pm
3900
3910
3920
3930
3940
3950
3960
cnbc.com
End of interactive chart.
chart logo
“Today’s equity rebound off the morning lows is likely the beginning of the market realizing that, with the Fed focused solely on inflation and not on growth, good news is actually good news,” said Zachary Hill, head of portfolio strategy at Horizon Investments.
“Today’s better than expected economic data was met with higher yields, and initially, equities followed this year’s pattern and sold off on that bond price action,” he added. “But if growth is going to hold in better than feared by market participants, as we expect it will, that should keep earnings firm and provide some support for equity markets.”— Tanaya Macheel
Source: CNBC.com