U.S. Stocks Advance After Two-Day Selloff
- Equities close the day with a flourish at session highs
- Volatility remains high, traders predicting no calm yet
Has Volatility Become the Catalyst for Markets?
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U.S. stocks rallied, after the Standard & Poor’s 500 Index posted one of its steepest drops this year, amid a respite from a global equities selloff.
After pacing the rout yesterday, technology shares led the rebound as Apple Inc. and Microsoft Corp. rose more than 3.6 percent. H&R Block Inc. jumped 7.5 percent after announcing a stock buyback plan. McDonald’s Corp. and Home Depot Inc. added at least 2.7 percent. A gauge of U.S. airlines rallied the most in more than seven months. Energy shares erased a decline along with oil, with crude closing higher after lurching between gains and losses.