Stocks Rise as Buyers Scoop Up Bargains After Rout: Markets Wrap
- Bonds see small moves as traders divided on pace of Fed cuts
- Market attention turns to inflation data, Trump-Harris debate
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A renewed wave of dip buying spurred a rebound in stocks after a selloff triggered by economic concerns, with traders now looking to this week’s inflation data for clues on the size of Federal Reserve rate cuts.
All major groups in the S&P 500 rose, with the benchmark up 1.2%. That’s after its worst start to a September on record, according to Bespoke Investment Group data going back to 1953. Nvidia Corp. and Tesla Inc. led gains in megacaps. Apple Inc. introduced the iPhone 16, with Chief Executive Officer Tim Cook saying it was built for artificial intelligence “from the ground up.” The shares closed little changed after an almost 2% slump.