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Home Stock Markets

US Stock Market Rebounds After Previous Day’s Losses

Yasmim Mendonça by Yasmim Mendonça
March 16, 2023
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On Thursday, the US stock market rebounded from the previous day’s losses, with significant indices experiencing gains. The Dow Jones rose 1.17%, the S&P 500 increased 1.76%, and the Nasdaq rose 2.48%. This marked a recovery from the declines seen the day before, as concerns over rising bond yields had caused a sell-off in tech stocks and other high-growth sectors.

The VIX volatility index, often called the “fear index,” also fell by 12% to 22.99, indicating a decrease in market uncertainty. The dollar index decreased by 0.2% to 104.43, while the euro gained 0.3% against the greenback.

In commodity markets, gold prices rose slightly, while silver prices decreased somewhat. Oil prices increased over 1%, with Brent crude up 1.4% at $67.04 a barrel and US West Texas Intermediate (WTI) crude up 1.2% at $63.66 a barrel. The rise in oil prices was attributed to a fall in US crude inventories and OPEC+’s decision to maintain its production cuts.

The market’s rebound on Thursday was seen as a sign of resilience, with investors taking a more positive outlook on the economy and the ongoing COVID-19 vaccination rollout. However, some analysts cautioned that concerns over rising inflation and interest rates could still cause market volatility in the coming weeks and months.

Overall, the market’s recovery on Thursday relieved investors after the previous day’s losses, with hopes for continued growth and stability in the weeks ahead.

The market rebound on Thursday was primarily driven by positive news regarding the US economy. The Labor Department reported that first-time jobless claims for the week ended March 13 were 770,000, a decrease from the previous week’s revised level of 725,000. This was a positive sign for investors, as the pandemic has caused significant job losses and economic uncertainty over the past year.

In addition to the positive jobs data, the Federal Reserve announced that it would not be raising interest rates for the time being, indicating that it is committed to supporting the economic recovery. This news was well-received by investors, as higher interest rates can lead to decreased borrowing and slower economic growth.

Tech stocks hit hard in the previous day’s sell-off and rebounded on Thursday. Shares of major tech companies like Apple, Amazon, and Microsoft saw gains as investors regained confidence in the sector.

Despite the positive news, some analysts remain cautious about the market’s future. Concerns over rising bond yields and inflation have led some investors to be more conservative in their investments. Additionally, the pandemic continues to be a significant economic risk factor, and any setbacks in vaccine distribution or virus containment efforts could lead to further market volatility.

While Thursday’s rebound was a positive sign for investors, it remains to be seen whether the market will continue to trend upward in the coming weeks and months. Investors should remain vigilant and closely monitor economic indicators and other risk factors that could impact their portfolios.

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