SPX daily
It was another impressive day for US equities. Futures were flat early today but a steady trickle of bids was the story throughout the day followed by a flash of buying late.
- S&P 500 +1.0%
- Nasdaq Comp +1.4%
- DJIA +0.6%
- Russell 2000 +0.9%
- Toronto TSX Comp +0.2%
These are the eighth consecutive gains in the S&P 500 and Nasdaq in one of the best runs since early in the pandemic.
At this point, you could argue that the rebound has run its course with the S&P 500 only 60 points from an all-time high. At the same time, you could argue that the strong rejection of lower levels is bullish, especially with the Fed primed to cut and the economy holding up.
