Stocks rallied sharply, despite a worse-than-expected inflation report that all but ensured the Fed's relentless rate-hiking would continue.
The big picture:
And the S&P 500 did, in fact, plunge after the inflation report, opening down 2%. However, it then boomeranged, closing upYes, stocks go up and down all the time. But the size of the swing from the opening tick was highly unusual. Bear market rallies are the brief, sharp increases that regularly happen, even as the market's broad trajectory is lower.
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