(Bloomberg) — Stocks rose the most in almost three weeks as the concern that has weighed on investor sentiment about a slowdown in economic growth eased. Crude oil jump and bond yields rose.
Energy shares helped push the S&P 500 up 0.9% and into positive territory for only the second time in eight trading sessions. The tech-heavy Nasdaq 100 rose for the first time in more than a week. Treasuries fell after rallying Tuesday on a lower-than-forecast inflation report, while the dollar weakened against most major peers.
After surging 20% to record highs through the first eight months of the year, the S&P 500 began September on a losing note as concern increased that a pullback in stimulus and the delta variant of the Covid 19 virus risked derailing the recovery from the pandemic. The S&P hasn’t closed higher by 1% or more since July 23.
“In this case, investors might be chasing economic breadcrumbs, like Hansel and Gretel,” said…