US indices staged a spirited come back into the close today. There was some optimism from China rate hike but stocks seemed to have been mostly lower for most of the day. It is hard to tell why the stocks reversed course. I suppose that S&P500 hasn't seen such a long losing streak in a very long time so some investors might have picked up some stocks that seem to be "screaming buys". Some of the quality names such as Apple, Walmart, Target are firmly in discounted zone after the retailers cast doubt over earnings growth for next quarter.
On the SPOT blog (05/20/2022) [D..]
Updated: Aug 31, 2022