Bloomberg
(Bloomberg) -- Stocks snapped a two-day drop as dip buyers emerged, fueling a rally in companies that stand to benefit the most from an economic revival. Treasuries fell, while the dollar was little changed.Most major groups in the S&P 500 rose, with commodity and industrial shares leading the charge. The Russell 2000 gauge of small caps outperformed major equity benchmarks, while the Nasdaq 100 fluctuated after Netflix Inc. reported subscriber additions that fell far short of Wall Street estimates. CSX Corp. paced gains in the Dow Jones Transportation Average after the railroad operator’s strong revenue outlook.Equities climbed as traders sifted through corporate results for signs on whether an anticipated rise in profits will bring with it forecasts for stronger growth ahead. Earlier losses in stocks were driven by concern over a flare-up in coronavirus cases around the world that could jeopardize prospects for a solid economic rebound.“Given the strong and accelerating economic backdrop, there appears little reason for investors to shed stock exposure at this point,” said Russell Price, chief economist at Ameriprise. “Economic trends should support ‘buying the dips’ for quite some time.”Here are some key events to watch this week:European Central Bank rate decision and President Christine Lagarde briefing on Thursday.U.S. releases new home sales data Friday.These are some of the main moves in markets:StocksThe S&P 500 Index rose 0.4% as of 11:06 a.m. New York time.The Stoxx Europe 600 Index climbed 0.8%.The MSCI All-Country World Index gained 0.1%.CurrenciesThe Bloomberg Dollar Spot Index was little changed.The euro fell 0.1% to $1.2026.The Japanese yen was little changed at 108.15 per dollar.BondsThe yield on 10-year Treasuries climbed two basis points to 1.58%.Germany’s 10-year yield gained less than one basis point to -0.26%.Britain’s 10-year yield rose two basis points to 0.746%.CommoditiesWest Texas Intermediate crude declined 0.7% to $62.24 a barrel.Gold rose 0.8% to $1,792.40 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.