US stocks gain ground following 7 straight weeks of losses
In this photo provided by the New York Stock Exchange, specialist Douglas Johnson works on the trading floor, Monday, May 23, 2022. Stocks rallied in afternoon trading on Wall Street Monday following seven weeks of declines that nearly ended the bull market that began in March 2020. NEW YORK — — Stocks closed broadly higher Monday, an upbeat start to the week on Wall Street after seven weeks of declines that nearly ended the bull market that began in March 2020.
The recent heavy selling on the market has primed traders to snap up big tech stocks and shares in other companies that had been high flyers before the market’s punishing skid, said Quincy Krosby, chief equity strategist for LPL Financial. The S&P 500 gained 72.39 points to 3,973.75. The Dow added 618.34 points to 31,880.24, and the tech-heavy Nasdaq picked up 180.66 points to 11,535.27.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Top Wall Street Analysts See These Stocks as Long-Term WinnersTipRanks analyst ranking service pinpoints Wall Street’s best-performing stocks, including Peloton and Rivian.
Read more »
Final-hour rally yanks Wall Street from edge of bear marketRising interest rates, high inflation, the war in Ukraine, and a slowdown in China’s economy are all punishing stocks and raising fears about a possible U.S. recession.
Read more »
Didi's disastrous foray onto Wall Street is overDidi's shareholders are about to vote on its delisting from the United States, almost a year after China's largest ride-hailing firm launched its $4.4 billion initial public offering on Wall Street.
Read more »
Wall Street Hits the Croisette: Why Private Equity Investors Are Bullish on Indie FilmParticularly in Europe, they are bankrolling independent producers at an unprecedented rate, betting the streaming boom will continue to drive demand for original content worldwide.
Read more »
How Elon Musk's Twitter Takeover Plans Shook Wall Street and Social MediaAnalysts believe Musk may be using this debate to drive down his proposed $54 per share takeover price now that so much value has been drained from tech stocks over the past few weeks.
Read more »