Dow ekes out gain, stocks end higher Monday after worst week of 2023

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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