Corporate America to the rescue… the Dow closed up 2.2% on Tuesday on the back of big corporate profits from some of the most prominent companies. Yesterday represents the best day for the Dow since March. And, quick to forgive, investors were back on the Amazon, Facebook, and Netflix bandwagon after dropping the stocks like a hot potato last week!
Last week took an L…, but today we bounce back (after last week’s mini-crash). Last week, the Dow, S&P 500, and Nasdaq all had their worst week since March (yes, the same month the market had its best day). However, despite the solid rebound, all three indexes are down for the month.
Yesterday’s issues… are slightly better today. Treasury rates have gone from 3.25% to 3.15% which has calmed investors down a bit. Remember – treasury rates move in the opposite direction of stock prices. Let’s hope the bull keeps charging forward!