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U.S. stocks rally as day-trading frenzy collapses Rita Nazareth and Claire Ballentine, Bloomberg News BNN Bloomberg s closing bell update: Feb. 2, 2021 VIDEO SIGN OUT Stocks posted a back-to-back rally as the trading frenzy that fueled a surge in heavily shorted shares crumbled. Investors also sifted through a batch of corporate earnings. After the close of regular trading, Alphabet Inc. and Amazon.com Inc. reported better-than-estimated sales, with the online retail giant saying Chief Executive Officer Jeff Bezos will step down from his post in the third quarter of 2021. All major groups in the S&P 500 rose on Tuesday, with financial and industrial companies leading the charge. United Parcel Service Inc. climbed as the courier reported a surge in profit, while Exxon Mobil Corp. rose on a pledge to safeguard dividends. Meanwhile, the speculative trades popular with Reddit crowds crumbled, with GameStop Corp. and AMC Entertainment Holdings Inc. tumbling at least 41 per ce

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