Stock Market Update
01-May-25 11:30 ET
S&P 500 moves above 50-day moving average
Dow +396.90
at 41066.26,
Nasdaq +434.23
at 17880.57,
S&P +84.48
at 5653.54
[BRIEFING.COM] The market continues to show impressive rebound action after yesterday's recovery from sharp losses.
The ongoing upside bias is driven by optimism that the Fed could soon be motivated to cut the target range for the fed funds rate, and rumblings from Chinese state media that the U.S. has approached China to try to work out a trade deal.
The S&P 500 trades above its 50-day moving average (5,592) after closing shy of that level yesterday. The index is 1.6% below its 200-day moving average with today's gains.
