U.S. stocks booked modest gains on Monday after recording their worst week of the year as jitters about inflation and interest rates rattled investors. The Dow Jones Industrial Average DJIA, +0.22% rose about 72 points, or 0.2%, ending near 32,889, while the S&P 500 SPX, +0.31% gained about 0.3% and the Nasdaq Composite Index COMP, +0.63% closed up 0.6%, according to preliminary FactSet data.
Investors attributed the slight bounce in stocks on Monday to an easing of Treasury bond yields. The 10-year TMUBMUSD10Y, 3.924% rate was at 3.921% Monday, while the 2-year TMUBMUSD02Y, 4.790% was at 4.791%, near the highest since 2007. Still, a key worry to emerge has been that a robust economy causes inflation to stay high, prompting the Federal Reserve to rely on a more “restrictive” level of interest rates, for longer, than previously anticipated.
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Stock Market News Today: Indexes jump after worst trading week of 2023US stocks climb as investors try to recover from the worst trading week of the year
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