Stocks Make Comeback at End of Dizzying Week: Markets Wrap

(Bloomberg) -- A rebound in stocks in the final stretch of a wild week drove the market to its biggest back-to-back advance in 2024. After the many ups and downs — including Monday’s panic selling — the S&P 500 nearly wiped out its losses for the week. The S&P 500 rose 0.5%, while finishing down for a fourth straight week — its longest losing streak since September 2023. After pricing aggressive Fed cuts this week, traders pared bets to about 100 basis points of easing for the year. Since 1962, the ratio dipped this far only 13 other times, and in more than 90% of those instances, the S&P 500 rallied a year later.