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Stocks rebound after previous tumble

Video Credit: Reuters Studio - Duration: 00:54s - Published
Stocks rebound after previous tumble

Stocks rebound after previous tumble

Wall Street rallied sharply at Friday's opening to recover a sizable chunk of the losses seen the day before when stocks suffered their biggest drop in three months.

Conway G.

Gittens has the early market action.

The U.S. stock market bounced-back Friday, one-day after the worst day for stocks in three months.

Investors are regaining composure after worries of a slow recovery and fears of a spike in new infections drove the S&P 500 into a 6 percent tailspin the day before.

This week's volatility is a reminder, one trader told Reuters, that hopes of an economic rebound driven by states reopening can be dashed by headlines that revive health concerns, and then return to optimism just as quick.

Banks led Friday's rally after taking a beating most of the week.

Another sector on the upside: travel and tourism stocks.

American Airlines was a high flyer and Norwegian Cruise Line was a big gainer.

Software company

Class="kln">Adobe rallied after better-than-expected earnings.

Despite Friday's rebound, Wall Street was still on track for its worst weekly decline since March.




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