TIF - We're Back! S&P 500 Up Big as Tech Stock Gains Outpace Airline Cruise Stocks Selloff
Whew, that was better. The S&P 500 Index (SNPINDEX: ^GSPC) bounced back bigly on Sept. 9, gaining 67 points, or 2%. The turn back higher breaks a three-day skid that saw tech stocks -- and almost everything else -- edge lower by almost 7% from last Thursday through yesterday.
Just as yesterday's sell-off was broad across every sector, today's move up was widespread. More than 400 of the 505 stocks in the S&P gained today, with the majority of stocks in every sector finishing the day in positive territory. This included the energy sector, which bounced back a little bit today after yesterday's massive sell-off.
Leading the way were the "FAAMG" stocks (Microsoft (NASDAQ: MSFT) was up, while Netflix (NASDAQ: NFLX) was a surprising loser today), with Apple (NASDAQ: AAPL), Amazon.com (NASDAQ: AMZN), and Microsoft up close to 4% or more, with their market cap heft more than offsetting the losses by airline stocks and cruise stocks. American Airlines (NASDAQ: AAL) and Carnival (NYSE: CCL) brought up the rear in those sectors.