Skip to content

Out of the Woods? The S&P 500 Recovers 50% of Year’s Drawdown

  • The index surpassed the 4,232 level on Friday with a 1.7% jump
  • Gain will ‘get a lot more believers in,’ B. Riley’s Hogan says

The S&P 500 marked a much-watched milestone Friday: it retraced half the losses from its steep drop this year in a bullish signal of market recovery.

With a 1.7% one-day gain, the index surpassed the 4,232 level and closed the week at 4,280, meaning it has recouped more than 50% of the losses it notched between its January peak and June nadir. The gauge has also logged its fourth consecutive week higher, putting question marks around the bear market that has haunted equities during a stress-filled summer for investors.