Wall Street started Thursday's session in positive territory, marking a modest rebound from the recent bout of selling.
The gains come after the S&P 500 declined 1.5% during the prior two trading days due to concerns about the US-China trade war and plunging bond yields.
The Dow is still on track for its sixth consecutive losing week. That hasn’t happened since June 2011.
Analysts said Wall Street could soon be due for a rebound given the recent tumble. Based on technical indicators, nearly half of the stocks in the S&P 500 are "oversold," according to Bespoke Investment Group. That's the highest since early January.
"The market is approaching some levels that can be considered extreme in the short-run," Paul Hickey, Bespoke's co-founder, wrote in a note to clients.
PVH (PVH), the owner of Timmy Hilfiger and Calvin Klein, plunged 10% after warning of weaker demand in the United States and China.
Dollar General (DG) jumped 5% on solid sales growth driven by higher traffic and shoppers spending more.
https://www.cnn.com/business/live-news/stock-market-news-today-053019/index.html
2019-05-30 16:12:00Z
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