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S&P 500 Struts Stuff With Best Day in Three Weeks: Markets Wrap

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CIC's Ethridge Expects More Cash to Come Off SidelinesSource: Bloomberg
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US stocks surged in a broad-based rally as investors assessed the outlook for earnings and as speculation grew that markets may have come close to bottoming out.

The S&P 500 defied the late-day reversal that has been a cornerstone of this volatile market, closing near session highs in its biggest one-day gain since June 24 as all 11 industry groups advanced. The tech-heavy Nasdaq 100 outperformed major benchmarks, ending 3.1% higher, with megacaps Apple Inc. and Alphabet Inc. bouncing back from Monday’s losses.