Why Did US Markets Rebound on June 28?
The S&P 500 lost strength on Wednesday and closed the day at four-week low price levels. On June 28, the S&P 500 started the day on a mixed note, regained strength, and moved higher as the day progressed. On Thursday, nine out of 11 major S&P 500 sectors closed the day higher. Strength in the telecom services and IT sectors supported the market. However, weakness in the utilities and energy sectors limited the market’s gains.