US stocks increase gains amid optimizing reopening: markets end


(Bloomberg) – US stocks rebounded after a sellout at the end of the session, as investors hoped the US economy would continue to reopen and major profits for retailers showed signs of resilience. Crude oil added to its four-day rally.

The S&P 500 jumped more than 1.5% after Lowe’s Cos. And Target Corp. reported sales exceeding estimates. The index plunged around 1% in the last hour on Tuesday after a report that questioned the promise of an antiviral vaccine. The gains were wide, with the financial, industrial and energy groups leading. The index has risen more than 30% since its trough in March, but the increase largely stopped in May with the return of volatility.

“It’s almost like making up for yesterday’s closeout yesterday,” said Ryan Detrick, senior market strategist for LPL Financial. “There is optimism as we continue to hear the headlines that states are opening, it’s just a realization that the economy will open very soon. “

The Stoxx Europe 600 index wiped out an early decline, with Experian Plc among the best advancers after the Irish credit services firm weathered the pandemic better than analysts had expected.

The euro has headed for its fourth consecutive advance against the dollar, as expectations have risen for the approval of a regional stimulus package. The Gilts climbed, with the UK selling bonds at a negative yield for the first time.

Yields rose slightly before the US Treasury resumed the 20-year bond issue.

Investors have been struck by conflicting reports about a possible vaccine for the virus, as many governments around the world are easing blockages as the pandemic continues to spread, with Brazil now the hotspot for new infections. Euro gains coincide with progress on European Union’s 500 billion euro ($ 550 billion) fiscal stimulus package, though critics say package may be too little, too late to counter the devastating effect on the region’s economies and strengthen the outlook for corporate profits.

“We are in the headlines and we should expect to see some market volatility,” said Nela Richardson, investment strategist at Edward Jones & Co. “Volatility is to be expected. “

Elsewhere, stock indexes in Japan and India saw most of the gains in a mixed Asian session, with Shanghai and Hong Kong in the red. In Japan, the Tokyo Stock Exchange was among the stocks that jumped amid speculation that it might be a candidate to join the Nikkei 225 equity index. The South African rand climbed 2% against the dollar, as the country’s central bank saw its key rate hitting record levels on Thursday to support the economy. “data-reactid =” 32 “> For more articles like this, visit us on

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