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Drop a ball off a balcony, and it will bounce. Drop the market off an all-time high and it eventually will, too. That doesn’t make it a buying opportunity.
We’ve been waiting a while for a week like this. The S&P 500 rose 6.2%, while the Dow Jones Industrial Average gained 5.5% and the Nasdaq Composite jumped 8.2%. It was the largest weekly gain for all three indexes since November 2020.