Highlights
Equities and risk assets in general got a boost after China unveiled an aggressive batch of stimulus measures. News at midmorning in New York that consumer confidence dropped unexpectedly sent bond yields lower and renewed concerns that the U.S. economy may be weakening rapidly, but the equity market reaction was limited.
Nvidia was the day's featured winner on a Barron's report the firm's founder had completed his pre-planned stock sales, which supposedly removed a significant overhang for the stock. Among sectors, best were information technology, consumer discretionary, materials, industrials and communications services. Lagging were energy, financials, utilities, health care and consumer staples.