Dow Jones rebounds over 400 points as Nasdaq hits record
In short
US stocks bounced back, with the Dow Jones rising more than 400 points from its lows and the Nasdaq setting a new record. The move came as investors looked past high yields.
Morgan Stanley said some stocks look attractive after a drop in valuations, and UBS said equities may rise more over the next 6-12 months. What is still not clear is how long the rally can last.
What the reporting says
US stocks recovered on the session, with the Dow Jones climbing more than 400 points from its lows and the Nasdaq reaching a new record, as investors looked past high yields. The available reporting says Morgan Stanley sees some areas of equity markets as attractive after valuation drops, while UBS expects more upside over 6-12 months. The broader reason for the move is not fully stated.
Why it matters
US stocks recovered during the session, with the Dow Jones off its lows by more than 400 points and the Nasdaq hitting a record. The publisher-supplied summary says investors were looking past high yields. Morgan Stanley and UBS were cited as seeing room in equities after valuation drops, but the reporting does not give a specific catalyst, index level, or closing outcome.