U.S. equities rebounded from recent weakness on Tuesday as buyers saved the Dow Jones Industrial Average from breaking down below its 50-day moving average. Bulls are being encouraged by some strong economic data (consumer confidence is off the charts) and dovish comments from Federal Reserve Board Chair Janet Yellen (that there remains pockets of high unemployment).
Overall, that was enough to juice financials higher and thus, drag the rest of the market higher in sympathy and avoid the longest losing streak since 1978.
In the end, the Dow Jones gained 0.7%, the S&P 500 gained 0.7%, the Nasdaq Composite gained 0.6% and the Russell 2000 gained 0.7%. The Dow, the S&P 500, and the Russell 2000 all gained exactly 0.73% each - suggestive of machine buying instead of actual humans - as large-caps...