- Stocks pushed higher in choppy trading, with the S&P 500 bouncing back from its biggest weekly drop since 2012, as markets stabilized after last week's selloff.
- The jitters that weighed stocks amid worries about the outlook for Fed policy and global credit market woes were largely absent today, and buyers stepped in during afternoon trading; because of consistently light trading volume, any large moves by investors are more likely to swing benchmarks.
- Sentiment was more relaxed from the start thanks to Portugal's plan to spend €4.9B ($6.6B) to bail out Banco Espirito Santo.
- The energy sector was an early laggard but surged into the lead after Colorado officials announced the formation of a task force that will result in the removal of anti-fracking initiatives from the November ballot in the state; also, crude oil rose 0.4% to $98.27.
- Treasury prices rose as rate-hike concerns ebbed, and the 10-year yield fell 1.5 bps on the day at 2.491%.
Stocks extend gains in late trading as markets stabilize
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