Investors turn their attention to a rap of mostly economic data. The strongest pace of productivity growth in a year and a half. Along with a drop in labor costs. The private adp survey of job growth was steady and that also helped a bit. Add to that the feds view that the economy is growing and you had a recipe for a stock bounce. By the close, the Dow Jones Industrial average rose 293 points. To 16,351. The nasdaq rose 113, and the s p 500 add 35. Bob delves a little deeper into the rally. Reporter the markets started up and stayed up. Why was there a rally . China was relatively quiet. Then oil rallied in the middle of the day which was a surprise. The weekly inventory report showed another bill. The oil rally helped oil names like exxonmobil. The icing on the cake came in the last halfhour when the dow rallied an additional 100 points. Unlike some days in the last couple weeks, there were no orders to sell stocks at the close. In the middle of the day, the fed released the beige bo
Investors still diving into US equities with valuations at record highs
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Investors are still pouring into the U.S. stock market at record high valuations
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By Gunjan Banerji Explosive moves in individual stocks and sectors are underpinning a white-hot streak in the market. Major U.S. stock indexes have kicked off the second quarter with a bang, powering higher and building on a blockbuster rally that began in March of last year. The market s ascent since then has been nearly relentless, pushing the S&P 500 to 17 new highs in 2021 and recently hurtling past the index s 4000 mark for the first time. The Cboe Volatility Index, a gauge of stock volatility based on options priced on the S&P 500, recently closed at its lowest level in more than a year.