Stock Market Update

[BRIEFING.COM] The stock market has been on a steady rebound march since about 1:00 p.m. ET in another patented buy-the-dip trade. Earlier, the S&P 500 had slipped to 5,843 on reports the U.S. might impose more technology-related sanctions on China, but buyers returned, drawn in by the break of the 5,900 level and a calming remark from President Trump, who said he will talk to President Xi and hopefully work things out.

The latter contained the right semantics for the algorithms, which have presumably underpinned the bullish-minded tape in the afternoon trade.

Most sectors (eight to be exact) are now higher for the day, the CBOE Volatility Index (19.07, -0.11, -0.6%) has gone negative, and breadth figures, while still leaning in favor of decliners at the NYSE and Nasdaq, have narrowed.