S&P 500 Makes Comeback as Airlines, Banks Shine

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S&P 500 Makes Comeback as Airlines, Banks Shine

© Reuters. By Yasin Ebrahim Investing.com – The S&P 500 rebounded Tuesday, as investors took advantage beaten down travel-related stocks and financials following a rout the previous day.    The rose 1.5%, the gained 1.6%, or 550 points, the Nasdaq was up 1.6%. The   rose above 1.2% after dropping to 1.14% earlier in the session, providing a much needed boost to financials, mostly bank stocks following Monday's selloff. JPMorgan (NYSE:), Goldman Sachs (NYSE:) and Bank of America (NYSE:) rose more than 1%.  The selloff on Monday was largely attributed to fears that a resurgence in Covid-19 infections would stall the recovery. The delta variant is now estimated to make up 83% of all Covid-19 cases in the U.S., the director of the CDC said Tuesday. Some on Wall Street suggest the economy has transitioned from a recovery stage to an expansion phase.  "The most visible signs of the transition have been the return of inflation-adjusted output in June to pre-pandemic levels; productivity-enhancing investment in high-tech equipment; broadening loan growth beyond consumers to businesses; and strong job gains as businesses gained renewed confidence," Wells Fargo (NYSE:) said in a note. Industrials were one of the biggest sector gainers, led by surge…