U.S. Equities, Crude Oil Gain Ahead of Election: Markets Wrap
- S&P 500 index rebounds after posting worst week since March
- Oil climbs after reaching five-month low; gold increases
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U.S. stocks rebounded from the worst week since March as investors bet on the energy, materials and industrial sectors ahead of Tuesday’s U.S. presidential election. Crude oil rose the most in more than three weeks.
Dip buyers helped the benchmark S&P 500 finish up 1.2%, though it closed down from the highs of the day. It slumped 5.6% last week. The tech-heavy Nasdaq 100 lagged behind, weighted down by Apple Inc. and Amazon.com Inc. as investors rotated from so-called work-from-home stocks and into sectors that would benefit from more stimulus.