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S&P 500 Roars Back From Six-Day Slide; Bonds Surge: Markets Wrap

  • Fed officials have restated their hawkish stance all week
  • Oil rose as US inventories declined; the dollar dropped
Bloomberg business news
WATCH: The last phase of dollar strenth is nearing, says Allianz’s Mohamed El-Erian.Source: Bloomberg
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US stocks and Treasuries rallied on Wednesday after the Bank of England’s decision to stage a market intervention boosted UK bonds and tentatively calmed markets.

The S&P 500 snapped a six-day rout. It rose the most since early last month, and for the first time since the Federal Reserve boosted rates and dialed up its hawkishness a week ago. The index jumped more than 2% later in the session, bolstered by gains in Inc.’s shares after the company’s annual device event on Wednesday showed it pushing further into wellness, security and the auto industry.