Wall Street Rallies, S&P Has Best Day Since July

Wall Street on Monday had it best day in months, making bigs gain – and recovering some of its weeks-long losses – on unexpected data that raised the possibility the Federal Reserve won’t have to be so aggressive in raising interest rates.

  • The S&P 500′s rose 2.6%, its biggest gain since July, in year in which markets are down over concerns about a possible global recession.
  • Wall Street is coming off its worst month since the coronavirus crashed markets in early 2020 and is still down nearly 23% for the year.
  • The Dow Jones Industrial Average increased 2.7%, and the Nasdaq composite gained 2.3% in Monday’s rally that resulted in the vast majority of U.S. stock prices increasing.