The benchmark gauge of the US stock market, the S&P 500, briefly poked its head above water Thursday, as the index moved into positive territory for the first time during 2016. Alas, the blue-chip index couldn’t hold its scant gains through the close of trading. At any rate, the Federal Reserve’s decidedly dovish tone in yesterday’s monetary policy announcement seems to have put a bit of gas in investors’ engines, as has the rebound in some commodity prices. In fact, oil price gains have been outpacing stocks this year.
US stocks briefly surface for the first time in 2016
There’s a big difference between above and below.
Image: Reuters/Alexandre Meneghini
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