Stocks rebounded on Wall Street Monday and clawed back most of their sharp loss from last week.
The S&P 500 snapped higher as the initial jolt passed from the Federal Reserve’s reminder that it will eventually offer less help for markets. Oil producers, banks and other companies that were hit particularly hard last week made the biggest gains.
High-growth tech stocks lagged. Shorter-term yields fell, and longer-term yields rose in another reversal from last week’s initial reaction to the Fed’s saying it may raise rates twice by late 2023.
On Monday:
The S&P 500 rose 58.34 points, or 1.4%, to 4,224.79.
The Dow Jones Industrial Average rose 586.89 points, or 1.8%, to 33,876.97.
The Nasdaq rose 111.10 points, or 0.8%, to 14,141.48.
The Russell 2000 index of smaller companies rose 48.35 points, or 2.2%, to 2,286.09.
For the year:
The S&P 500 is up 468.72 points, or 12.5%.
The Dow is up 3,270.49 points, or 10.7%.
The Nasdaq is up 1,253.20 points, or 9.7%.
The Russell 2000 is up 311.24 points, or 15.8%.
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
