| After plunging on Monday due to renewed concerns of a global economic slowdown, Wall Street rebounded on Thursday thanks to slightly better economic news and bargain hunters jumping back into the market to capitalize on early-week declines. The broader S&P 500 Index finished up over 2% on Thursday to 920.26 which is practically where it stood at the end of trading last week. Markets sold off on Monday when the World Bank revised its estimates lower for the world economy to 2.9% contraction compared to a previously estimated 1.7% drop. The Fed also concluded a two-day meeting on Wednesday which resulted in the target Fed Funds rate remaining unchanged at the 0 to ¼ point range. The Fed statement also noted that their view on inflation remains “subdued&r... |
| Read more... |