Apple-Led US Reversal Leaves Asia Facing Soft Open: Markets Wrap - Bloomberg

2022-07-23 08:13:10 By : Ms. Summer Xia

Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business.

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US stocks surged in a broad-based rally as investors assessed the outlook for earnings and as speculation grew that markets may have come close to bottoming out.

The S&P 500 defied the late-day reversal that has been a cornerstone of this volatile market, closing near session highs in its biggest one-day gain since June 24 as all 11 industry groups advanced. The tech-heavy Nasdaq 100 outperformed major benchmarks, ending 3.1% higher, with megacaps Apple Inc. and Alphabet Inc. bouncing back from Monday’s losses.