U.S. equities rose on Monday as investors, believing that a probable rate decrease by the Federal Reserve later this month will support a slowing economy, bought the dip after Wall Street’s worst week of the year.
Monday’s strongest performers were technology shares, which were among the most negatively impacted stocks last week.
After dropping more than 1,200 points the previous week, the Dow Jones Industrial Average closed the week 425 points higher, or around 1.1%.
The S&P 500 experienced its worst week since March 2023, falling more than 4% the week before before before recovering by 0.9%. It was the first increase for the benchmark in the previous five days.
Following its worst week in almost two years, the Nasdaq Composite increased 0.8%, led by a 3% increase in Nvidia. The popular AI stock dropped 14% last week.
Source (CNBC)
