The market flirted with trading a recession at the start of the month but has decided against it. Today's data underscored why with better retail sales and initial jobless claims leading to the sixth day of gains in the Nasdaq. That 9% rally is the best six-day run since November 2022. The index is now up 12% from the intraday low on August 5.
Closing changes:
- S&P 500 +1.6%
- Nasdaq Comp +2.3%
- DJIA +1.4%
- Russell 2000 +2.4%
- Toronto TSX Comp +1.2%
Nasdaq daily chart