US stocks rise in choppy trading as Fed mulls faster policy tightening

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US stocks rise in choppy trading as Fed mulls faster policy tightening via IrishTimesBiz

US stocks rose in choppy trading and Treasuries were mixed on Monday as investors weighed prospects for faster policy tightening by theTech and energy sectors led gains in the S&P 500, while the Nasdaq 100 climbed to session highs, reversing earlier losses. Bank of America gained, joining a string of earnings beats by big lenders such as Morgan Stanley and Citigroup.

In other market moves, Twitter rose after Elon Musk said the economic interests of the board are not aligned with shareholders. The pattern across markets suggests investors remain uncertain whether high inflation has peaked. Price pressures are being fanned by supply-chain snarls from China’s Covid restrictions and disruptions to commodity flows due to the war.

The positive effects from inflation on earnings growth for US firms have peaked as rising costs trim their margins and price pressures caused by the Ukraine war hit consumers, according to Morgan Stanley strategists.

 

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