Reply To: Traders Market Weekly: Bears Squeezed in Bonds, Stocks and Currencies

#47456
Truman
Participant

Dow -55.11 at 33663.29, Nasdaq +138.94 at 11192.94, S&P +23.73 at 3980.17

The bulls continue to show that they are aiming to remain in control of the market. The major indices are trading higher, quickly bouncing back from an early selling effort, despite a weaker-than-expected consumer sentiment report.

FTX Group has filed for Chapter 11 bankruptcy. That news has put the cryptocurrency market back on the defensive, but stocks so far are not giving in to any angst about a contagion effect.

Follow-through gains in the mega-cap stocks, including Tesla (TSLA 192.95, +2.23, +1.2%), which has rebounded from early losses. The Vanguard Mega-Cap Growth ETF (MGK) is up 1.5%, led by Amazon.com (AMZN 100.15, +3.52, +3.6%) and Microsoft (MSFT 246.07, +3.09, +1.3%).