Stocks stage a dramatic comeback Monday to end higher

stocks-stage-a-dramatic-comeback-monday-to-end-higher

Stocks rallied late Monday to end higher, dulling some of the pain of a brutal April selloff. The Dow Jones Industrial Average DJIA, +0.26% rose about 86 points, or 0.3%, to end near 33,063, after tumbling to 32,449.87 at the session’s low. The S&P 500 index SPX, +0.57% advanced 0.6% and the Nasdaq Composite Index COMP, +1.63% closed up 1.6%. The rally came despite the continued climb of the 10-year Treasury yield to 2.995% on Monday, the highest since November 30, 2018, according to Dow Jones Market Data. Rates volatility has been significant factor this year in dramatic bond-market losses, as well as the sharp decline in once highflying technology stocks. The upswing for equities also comes ahead of a two-day Federal Reserve policy meeting that kicks off Tuesday, with the central bank widely anticipated to raise its policy rate by 50 basis points at the end of the gathering on Wednesday.

Source: Marketwatch

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