S&P Surges, Bears Roared; 6500 Resistance Next

0:00It's April 1st, you're listening to Durham News today, AI-powered local news, Howard Local News. The S&P 500 just shut down the bears with a massive surge, jumping nearly 3% to close at 6,500, 28.52 on March 31st. After weeks of getting hammered by spiking oil prices and Middle East drama, this marked the index's strongest day in ages. Morgan Stanley's strategist Michael Wilson says the market correction might be hitting its final stretch, with most of the downside already baked into. Prices Over half the stocks in the Russell 3000 are down more than 20% from highs, and the Ford price the earnings ratio has plunged, showing investors are dialing back the hype. Geopolitical fears ease the bit with reports that Iran's president might be open to cooling the conflict, sparking a broad rally. The Dow leaped over 1,100 points, NASDAQ nearly 4%, led by tech giants like NVIDIA, up

1:005.6% Microsoft, 3.1, and meta 6.67. Defensive sectors lagged, hinting folks aren't prepping for total doom. Oil hit above $116 a barrel for Brent Crude, but the market sees it as temporary, not a game changer. Still, the real wild card now is interest rates, with the 10-year treasure yield nearing 4.5%, putting pressure on stocks as, bar-wing gets pricier. Keep eyes on yields and whether the S&P breaks above $6,525 to $6,550 resistance. Morgan Stanley holds a bullish year end target of $7,800 if recession stays off the table, setting up for a healthier rebound.