Dow: +191.66…
Nasdaq: +170.29… S&P: +37.25…
The stock market made a rebound attempt today. There were some fits and starts in that attempt, but ultimately it was successful, gaining some steam after the release of the Minutes for the May FOMC meeting. Each of the major indices ended the day higher, yet the performance edge clearly went to the small-cap and mid-cap stocks over their larger peers.
The Russell 2000 increased 2.0% and the S&P Midcap 400 Index increased 1.9% versus gains of 1.0% for the S&P 500 and 0.6% for the Dow. Some speculative trading action and short-covering activity bolstered the performance of the smaller-cap stocks, but to be fair, today’s session had a predominately rebound-minded bias that saw the majority of stocks attract some buy-the-dip interest.
Last night’s watchlist names still look good for continuation.