NEW YORK — Stocks closed higher on Wall Street, ending a four-day losing streak. The S&P 500 added 1.2% Monday. The benchmark index is coming off its worst week in nearly a year and a half. The Dow Jones Industrial Average and the Nasdaq composite also rose 1.2%. Boeing helped lead the market after reaching a tentative deal with its largest union on a new contract. Palantir Technologies and Dell Technologies rose after being named to join the S&P 500.
After likewise climbing a bit in the morning, Treasury yields later pared their gains in the bond market. That followed sharp swings last week, when a highly anticipated update on the U.S. job market came in weak enough to worsen worries about the slowing U.S. economy. “Today, the absence of glaring household or corporate balance sheet vulnerabilities means Fed easing should be enough to prevent recession, and should provide investors some optimism for the future of the market,” suggests Seema Shah, chief global strategist at Principal Asset Management.
Trading in Big Lots was halted after the discount retailer filed for Chapter 11 bankruptcy protection and said it plans to sell its assets and ongoing business operations to private equity firm Nexus Capital Management.This upcoming week will feature the latest monthly updates on inflation at the consumer and wholesale levels.
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