Business
Bargain-hunters send Wall Street surging, setting up ASX for gains – Sydney Morning Herald
Wall Street starts the week in style as investors jump in on the back of the longest weekly losing streak in over a year for both the S&P 500 and the Dow.
“Today’s market is being led by energy and financials, but it’s a very well-balanced market,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. “Every sector is participating in this rally.”
However, even with Monday’s jump, the indexes are only days away from closing the books on their first monthly declines since March, when markets were sent into a freefall by pandemic-related lockdowns.
“Given that it’s been a weak month, some rebalancing may be occurring,” G…
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