Stocks Enjoy Big Afternoon Bounce

Market Commentary Index futures rallied into last week’s highs overnight and rolled over in a vertical decline, selling off to March and April support levels, ahead of a strong afternoon bounce that brought the S&P 500 back into the green. Big tech underperformed, stalling at the flatline, while the Russell 2000 split the difference, dropping to a seven-week low and bouncing strongly in a long-legged doji candlestick reversal. Defensives caught