A rebound that has taken the U.S. stock market to record highs this week may have further to run, if history is any guide. Market strategists who track historical trends say stocks tend to build momentum when recovering from similar-sized pullbacks, often continuing to rally even after making up lost ground. Past rebounds in the S&P 500 from 5% pullbacks have been followed by a median gain of 17.4%, said Keith Lerner, co-chief investment officer at Truist Advisory Services.
A rebound that has taken
the U.S. stock market to record highs this week may have further
to run, if history is any guide. Fresh signs of a cooling economy calmed inflation worries.
Markets are hoping for evidence that will solidify a brightening global economic outlook, though rising trade tensions are casting a cloud, while G7 finance ministers gather in Italy.
The Dow Jones Industrial
Average, a laggard among the major U.S. stock indexes
this year, got its moment in the spotlight on Thursday as it
briefly broke above 40,000 points for the first time in.
By Saqib Iqbal Ahmed and Lewis Krauskopf NEW YORK (Reuters) - The Dow Jones Industrial Average, a laggard among the major U.S. stock indexes this year, got its moment in the spotlight on Thursday as it briefly broke above 40,000 points for the firs.