Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia, said the day’s rally in stocks was nothing more than a rebound after a weak stretch. European stocks closed up 1.17% as rising bank shares and encouraging results from chipmaker Infineon calmed nerves following a tech-fueled sell-off on Wall Street on Monday. European bank stocks rose 3.5% to more than a 1-1/2 year high. Brent crude rose $1.30 to settle at $82.56 a barrel. Gold prices fell as firmer U.S. Treasury yields and a stronger dollar dented the safe-haven metal’s appeal.

Source: MetroXpress October 05, 2021 08:48 UTC