Investors piled back into stocks Friday, lifting all three major U.S. indexes, as fresh data underscored that a strong economic recovery is under way.
The rally capped a volatile week for the U.S. stock market, during which major indexes swung widely in both directions. Stocks started Monday lower and then posted a mid-week rebound, before tumbling sharply Thursday on reports that President Biden is considering nearly doubling capital-gains taxes on the wealthy. The news—which immediately sent stocks lower—seemed to all but cement sizable losses for the week.
Yet strong economic data released Friday instead spurred a sharp rebound in equities