Daily Report : S&P notches yet another big intraday gain; Small-cap stocks assert dominance; Consumers negative for now, but hopeful for tomorrow


  • Jason Goepfert

    Jason Goepfert

    Published: 2020-04-29 at 21:31:22 CDT

Small-cap stocks aren't the only ones rallying. The large-cap S&P 500 index has enjoyed 6 straight sessions with at least a 1% gain at some point during the day, even if the gains fizzle by the close. These bouts of buying pressure are common during bear markets, and stocks need to hold gains to prove it's something other than that.; The small-cap Russell 2000 has surged over the past week, with a near record streak of 1% daily gains. That has pushed the ratio between the Russell and the large-cap S&P 500 to a 30-day high, some relief after the ratio had been mired at a multi-year low.; Overall consumer confidence cratered in April, but much of that was focused on the present. Consumers' expectations about the future actually improved with the stock market. That hasn't necessarily been a bad thing. And their confidence in stocks remains subdued, despite a big rally during the month.


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