Wall Street gains as investors ‘buy the dip’ on upbeat jobs data

0
99
Published by
Reuters

By Stephen Culp NEW YORK (Reuters) – Wall Street advanced in a broad rally on Thursday, bouncing back from three straight days of selling as upbeat labor market data prompted investors to buy shares that stand to gain most from economic revival. All three major U.S. stock indexes were in positive territory, with the Nasdaq, weighed by Tesla Inc, picking up the rear. Meanwhile, cyclical shares enjoyed the biggest gains. “It speaks to how many investors have been trained to buy the dip,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. “And they’re taking …

Read More