Dow stages 550-point comeback after harsh sell-off as investors remain optimistic on growth

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

US stocks staged a comeback Tuesday after a harsh sell-off the previous day, with the Dow rebounding tk points as investors bought the dip and bet on the continued strength of the economic recovery. Industrials, real estate, and financial stocks gained the most out of any sectors in the S&P 500. Industries that hinge on the economic re-opening like restaurants, travel, and lodging all ended the day in the green.

On Monday the S&P 500 faced its steepest decline since May while the Dow Jones saw its largest daily drop for the year. JPMorgan’s head of US equity strategy increased his year-end S&P 500 price target to 4,600 from 4,400, representing . Dubravko Lakos-Bujas remained constructive on equities, and views the latest fears of slowing economic growth “premature and overblown,” according to a Tuesday note. Billionaire investor is also bullish about the economy. He told CNBC in a recent interview that he expects a “massive” economic boom in the fall....read more...