S&P 500 Has Best Day Since June; Treasuries Drop: Markets Wrap
- Equities climb after week of intense bond-market volatility
- Zoom surges after the close on an upbeat revenue forecast
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Stocks climbed as confidence returned to markets, with investors shaking off concern about the impacts of higher Treasury yields.
In a broad-based rally, the S&P 500 notched its biggest advance in almost nine months, the Nasdaq Composite jumped 3% while the Russell 2000 of small caps outperformed. GameStop Corp. added to last week’s surge of over 150%, with retail investors promoting the stock on social-media platforms such as Reddit and StockTwits. After the close of regular trading, Zoom Video Communications Inc. soared as its revenue forecast topped Wall Street’s estimates.