Dow rallies 500 points, S&P 500 up 1% as Wall Street rebounds from sell-off: Live updates

Category: Finance

Investor Carol Schleif advises caution in increasing equity exposure following a sharp market sell-off, characterizing it as a textbook correction. The Cboe Volatility Index spiked dramatically, indicating heightened market fear. Despite the volatility, crypto ETFs showed resilience, with minor outflows in bitcoin ETFs and inflows in ether ETFs. Uber reported strong earnings, alleviating concerns about economic slowdown, while the U.S. trade deficit fell less than expected. UBS strategist Andrew Garthwaite remains optimistic about market recovery, and Fed's Mary Daly hints at potential interest rate cuts later this year.

Keywords: Market Correction, Volatility Index, Crypto ETFs

Source: CNBC

Update At: 8/6/2024

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