US close: S&P 500 nearly erases yesterday's sharp decline — further gains after hours

<p>The ongoing rally in the bond market is likely been driven by US banking fears but while the KRE regional banking ETF is was 3.4%, the rest of it is just seeing it as potential reason for the Federal Reserve to cut rates sooner. It's been an impressive bounce that nearly erases yesterday's rout.</p><p>On the day:</p><ul><li>S&amp;P 500 +1.2%</li><li>Nasdaq Comp +1.3%</li><li>DJIA +1.0%</li><li>Russell 2000 +1.3% </li><li>Toronto TSX Comp +0.5%</li></ul><p>After hours, shares of META and AMZN are both surging, up around 8% on earnings.</p><p>Tomorrow is non-farm payrolls (<a href="https://www.forexlive.com/news/preview-december-non-farm-payrolls-by-the-numbers-20240201/" target="_blank" rel="follow">preview </a>here) so the volatility isn't going anywhere.</p>

This article was written by Adam Button at www.forexlive.com.