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S&P 500, Dow Move Out of Correction in Day Two of Rally

June 27, 2023
in Trade Tube
Reading Time: 1 min read
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It’s day two of the market rally and stocks surged after the U.S. economy grew at a faster-than-expected pace in the second quarter. The Dow Jones Industrial Average and S&P 500 have moved out of correction territory. Crude oil recovered a level above $40 a barrel, boosted by hopes that a rebound on global markets could stimulate demand. Crude futures hit six-year lows earlier this week. Dollar General (DG) was lower after forecasting full-year same-store sales at the low end of previous guidance. The discount retailer had issued a range of 3% to 3.5% growth. Williams-Sonoma (WSM) dropped after a disappointing third-quarter and full-year outlook. The retailer expects profit no higher than 73 cents a share for its current quarter, 2 below analysts’ estimates.

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