Bank Earnings Fuel SPX Rally
The recent surge in quarterly profits from big U.S. lenders supports the belief in a strong economic rebound.
Too little corroboration in the last 3 days to call a trend (3 articles). Watching for it to gain traction.
"Stocks extended their gains today on signs of strength in the US economy after the July ISM manufacturing index rose by +2.3 to 55.6, stronger than expectations of 53.9 and the fastest pace of expansion in four years."
"On the economic data front, U.S. mortgage applications surged 7.8% from the previous week in the week ending April 17, following a 1.8% gain from the prior period."
"Global shares rebounded Tuesday from their sharp declines a day before. 'Today is the rebound, obviously positive comments from President Trump overnight, we’re starting to see the light at the end of the tunnel for the war,' said Neil Newman."
"Canada's main stock index more than recovered Wednesday's losses as it gained more than one per cent in trading Thursday, while U.S. markets also rebounded."
"Canada's main stock index more than recovered Wednesday's losses as it gained more than one per cent in trading Thursday, while U.S. markets also rebounded."
"Canada's main stock index more than recovered Wednesday's losses as it gained more than one per cent in trading Thursday, while U.S. markets also rebounded."
"Canada's main stock index more than recovered Wednesday's losses as it gained more than one per cent in trading Thursday, while U.S. markets also rebounded."
"U.S. markets also rebounded. The S&P 500 index was up 66.06 points, or 1.75 per cent."
"the market has staged a strong rebound, and year-to-date is no longer in correction territory."
""Panicked selling in equities quickly turned into a heroic comeback.""