MARKET RECAP

• US stocks had a big rally, with the S&P 500 up by 2.9% and small caps advancing by 3.96%.
• The recent slide in prices reversed when inflation data came in better than expected and bank earnings were strong.
• The yield on the 10-year declined by 16 basis points.
• On the negative side, mortgage rates broke above 7% for the first time since mid-2024

SCOREBOARD