At the start of Friday, Wall Street’s key indexes made a strong recovery.
The main driver of the increase appears to be dip buying.
Will it close the bearish opening gap from Thursday?
Wall Street starts Friday on a bullish note, cutting into Thursday’s bearish opening gap, thanks to a good lead from futures related to US indices.
The major market indices solidly recovered amid a generalized improvement in risk sentiment. In the wake of Thursday’s worst drop of the year, investors went on the quest for bargains.
As of this writing, the S&P 500 is up 0.61 percent on the day to 4,348, close to new highs of 4,361.88. The Nasdaq Composite is up 0.17 percent to 14,582 and the Dow Jones Industrial Average is up 0.92 percent to 34,737.
Concerns about the Delta strain of the coronavirus intensified global growth concerns on Thursday, sending Wall Street equities down.
Due to a dearth of top-tier US economic news, the Fed’s Monetary Policy Report will be watched later in the day./n
