US stocks volatile as sell-off pauses – The Wall Street Journal
DUBLIN – Market volatility looks set to continue. US stocks paused in their downward march on Wednesday, but anxieties remain. Much of the recovery in stocks has been driven by falling oil prices, which are seen as positive for global growth. The slump in the US stock market is a bit of a puzzle. The US economy is doing extremely well by virtually all measures. Growth is strong, employment is strong, consumers are optimistic, and the sky looks blue. Yet, in the last few weeks, we've seen a stock market sell-off, rising bond yields (in other words, falling bond prices), and slumping commodity prices – classic recession indicators all. It's not clear what's happening. Either the market is sending an early warning of a surprise recession or sentiment has outstripped common sense by a wide margin. It's also possible that some investors, seeing a widening gulf between the US and the rest of the world, are losing their nerve and reassessing their longer-term strategies. Only time will tell. – Felicity Duncan
By Georgi Kantchev and Michael Wursthorn
(The Wall Street Journal) The Dow Jones Industrial Average rose more than 100 points Wednesday, halting a selloff that has left investors on edge as to whether the longest bull market ever can regain its step.
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