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Stocks Rise From the Ashes in Best Day Since July: Markets Wrap

  • S&P 500 rebounds after its worst September in two decades
  • Brazil’s assets soar with Bolsonaro securing his way to runoff
Bloomberg business news
BlackRock's Wei Li Says We're Not in a Lehman MomentSource: Bloomberg
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Stocks kicked off the week with big gains after suffering their worst September in two decades as Treasury yields halted a seemingly endless surge, with weak US manufacturing data soothing concern the Federal Reserve will overtighten monetary policy.

As a sign of exhaustion after the recent washout, about 97% of the S&P 500’s shares flashed green, with the gauge having its best day since July. Aside from being oversold from a technical perspective, extreme pessimism and low fund positioning also fueled a rebound that followed its third-worst performance during the first nine months of a year since 1931.