S&P 500 Bounces Off Make-Or-Break Technical Level: Markets Wrap
- Morgan Stanley’s Wilson says US stocks can rally in short term
- Dip buyers wager US will lead way out of turmoil: MLIV Pulse
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Stocks saw big gains Monday, with the S&P 500 closing above a key technical level and another giant bank coming out with solid results. A reversal of the UK’s vast fiscal stimulus also bolstered trader sentiment.
The breadth of the rally was so strong that at one point over 99% of the companies in the US equity benchmark were up, with the gauge pushing away from its 200-week moving average. The tech-heavy Nasdaq 100 outperformed, notching its biggest gain since July.