Investors seem to have bought the dip, deeming the pullback to be a fairly healthy correction.

Investors have been attempting to revive the market’s momentum this year after Monday’s steep global sell-off, which was sparked by last Friday’s disappointing U.S. payrolls data, concerns about the Federal Reserve’s rate-cutting timeline and the unwinding of the Japanese yen carry trade.

Investors seem to have bought the dip, deeming the pullback to be a fairly healthy correction.

“The fundamental backdrop remains favorable for stocks to trend higher, particularly for investors with time horizons that extend to year-end and beyond,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. “Near term, heightened levels of volatility are likely to be more the norm versus the exception, as broad-market valuations remain elevated and seasonality trends suggest tempered returns during the ‘dog days of summer.’”

Even as the major averages surged on Thursday, they remain down on a week-to-date basis. The S&P 500 is off 0.5% this week, while the Nasdaq and the Dow are down roughly 0.7%. Both the broad-market S&P 500 and the Nasdaq are on pace for their fourth losing week.