Highlights

  • Bounce in S&P500 seen after posting worst week in 2 years
  • Experts question if the recovery will sustain

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US markets stage a comeback after Monday holiday

Bull took a break, got their energy back and came back to Wall Street and displayed a strong comeback but the big question remains is...for how long?

Dow Jones Industrial Average jumped 641.47 points, or 2.15%, in its best day for the month. The S&P 500 also climbed 2.45% , making it the index’s best day in June. The Nasdaq Composite rallied 2.51%.

But many are questioning this recovery as short lived or writing it off merely as a 'dead cat bounce'. Here is why there is low conviction, the S&P 500 has popped more than 2% on 10 other occasions since this bear began at the start of January, only to give up that gain and trade lower.

Beyond equities, Crude prices steadied at $114/bbl while in Asian markets Yen trades at 24 year low.

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