Wall St. scores broad-based gains amid resurgence in growth stocks



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Wall St. scores broad-based gains amid resurgence in growth stocks

On Tuesday, all thee key indices of Wall St. gained across the board, as traders appeared to have jumped on the bandwagon of a “buy-the-dip” move, which in turn had helped growth stocks recoup some of the mega-cap stocks’ earlier losses.

Nonetheless, in the day’s large-scale gains in the Wall Street came forth as a surprise to many, as GS raised the chances of an impending US recession to 30 per cent by next year with common Americans feeling the pinch of a sky-scrapping inflation-surge.

Besides, a lack of available workers that in effect had yielded a continuous rise in wage growths, eventually adding further fuel to an already blazing inflation-surge across the US, coupled with a hawkish US Fed stance would heighten up the chances of a recession, suggested GS.

Nonetheless, amid a havoc-scale buy-the-dip move on Tuesday, all eleven major S&P 500 sectors jumped, as stocks rebounded sharply after the index had reported its largest weekly percentage decline since March 2020 last week.

Wall St. logs large gains amid mass-scale “buy-the-dip”

Citing statistics, in the day’s Wall St. wind-down, trade-sensitive Dow jumped 2.19 per cent to 11,068.13 and Wall Street bellwether S&P 500 gained 2.45 per cent, while tech-heavy Nasdaq skyrocketed 2.50 per cent to 11,068.13.

Meanwhile, addressing to further volatility over coming months, a chief global market strategist at Invesco, Kristina Hooper said, “Do I think we have hit bottom? No. I think we are going to see more volatility, I think the bottoming process will likely take some time. But I do think it is a good sign to see investor interest”.