U.S. Stocks Are Back on Course After a Seven Month Detour
- Valuations look sturdier than they did back in late September
- Euphoric sense has been missing from the post-Christmas rally
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It took 14 weeks to fall, 17 weeks to recover, and if you managed never to sell during the U.S. stock market’s biggest tantrum in six years, you’ve just been made whole.
Seven months after it all began, the S&P 500 has completed one of the fastest round trips in market history. The benchmark gauge rose 0.8 percent during Tuesday’s session to 2,931.41, surpassing its previous Sept. 20 closing high of 2,930.75.