NEW YORK, Jan 20 — Wall Street stocks opened higher today as investors sought to shrug off two consecutive losing sessions amid lingering worries over tightening monetary policy.
After a poor start to 2022 for equities, some analysts consider the market “oversold,” as investors recalibrate valuations with the Federal Reserve signalling a sharp change in monetary policy. The yield on the 10-year US Treasury note — a proxy for Fed lending rates — edged lower early Thursday after spiking above 1.85 per cent in recent days.The broad-based S&P 500 gained 0.9 per cent to 4,574.38, while the tech-rich Nasdaq Composite Index jumped 1.5 per cent to 14,548.76.Among individual companies, shares of both American Airlines and United Airlines declined after they reported quarterly losses due in part to lingering impacts from the latest Covid-19 wave.