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Stocks Notch Their Best Three-Day Rally Since May: Markets Wrap

  • Eyes on ECB crisis tool with Italian sovereign risks in focus
  • Treasuries gain, with 10-year yield falling back below 3%
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WATCH: T. Rowe Price U.S. Economist Blerina Uruci discusses why she thinks recession fears are overblown.Source: Bloomberg
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Stocks rose amid a rally in megacaps as strength in the corporate sector buoyed investor sentiment. Treasuries gained as data pointed to weakness in the US economy. 

The S&P 500 posted its biggest three-day gain since May 27, led by tech and consumer discretionary stocks on Thursday. Tesla Inc. topped the leaderboard after its quarterly results beat estimates, with Apple Inc. and Amazon.com Inc. also pushing higher ahead of earnings due next week. Stocks briefly hit session lows in morning trading on news of US President Joe Biden testing positive for Covid.