Major Swings Are the New Norm for U.S. Stocks

(Bloomberg) -- Major swings in U.S. stocks have become the norm as of late. One of the biggest rallies of the bull market sent equities soaring on Friday, with the S&P 500 Index and Dow Jones Industrial Average both climbing more than 3 percent and the Nasdaq Composite Index gaining 4.3 percent after a better-than-expected jobs report and sympathetic comments from Federal Reserve Chairman Jerome Powell. It was the second time in just over a week that all three major indexes breached the 3 percent level. Moreover, for the S&P 500, it has now traded in an intraday range exceeding 2 percent on 15 of the last 21 days, the most since 2011.

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