The actions closed higher on Wall Street on Mondayafter seven weeks of declines that almost ended the bull market that began in March 2020.
The S&P 500 rose 1.9%, the Industrial Average Dow Jones 2% and the Nasdaq 1.6 percent. Banks and technology stocks rose the most.
The concern for inflation it has weighed on the market and has kept the main indices in a downward position recently.
The S&P 500 comes off its longest weekly losing streak since the dot-com bubble deflated in 2001. The 10-year Treasury yield, which helps set mortgage rates, rose to 2.86%.
Persistent concerns about inflation have weighed on the market and have kept the major indices in a drop. benchmark index S&P 500 is experiencing so far longest weekly losing streak since the dot-com bubble burst in 2001.
It nearly fell 20% from its peak earlier this year, which would put the index at the center of most workers’ 401(k) accounts in a bear market.
The impact of inflation on consumers and companies has been the main concern of the markets, along with the Federal Reserve’s attempt to temper that impact by aggressively raising prices. interest rates.
The inflation caused by a large disconnection between supply and demand has worsened due to the invasion of Russia in Ukraine and its impact on the prices of the Energy. Supply chains were further hurt by China’s recent spate of lockdowns for several major cities facing rising COVID-19 cases.
Investors worry that the central bank could go too far in raising rates or acting too quickly, which could slow economic growth and potentially trigger a recession. On Wednesday, investors will get a more detailed look at the Fed’s decision-making process with the release of the minutes of the last policy setting meeting.
Wall Street will also get some economic updates from the Commerce Department this week. A report on the first quarter gross domestic product and on Friday the data on income y spending April Personals.
(With information from AP)
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