Stocks snapped a two-day drop as dip buyers emerged, fueling a rally in companies that stand to benefit the most from an economic revival. The dollar fell, while Treasuries stabilized.

Most major groups in the S&P 500 rose, with raw-material, energy and financial shares leading the charge. A gauge of small caps climbed more than 2%, outperforming major benchmarks. CSX Corp. paced gains in the Dow Jones Transportation Average after a strong revenue outlook. Netflix Inc. tumbled on disappointing subscriber figures. The Canadian dollar advanced as the nation’s central bank said it’ll pare back asset purchases and move up its expected timeline for potential rate hikes.

Equities rebounded as traders sifted through corporate results for signs on whether an anticipated jump in profits would bring with it forecasts for stronger growth. Earlier losses were driven by concern over a flare-up in coronavirus cases around the world that could…

Read more…

Share.

Comments are closed.