Stocks started the week on a positive note after last week's sell-off and weaker-than-expected hiring data renewed concerns about a potential recession.
Stocks started the week on a positive note after last week's sell-off and weaker-than-expected hiring data renewed concerns about a potential recession.and Nasdaq Composite finished 1.16% higher while the Dow Jones Industrial Average gained 1.20% by Monday's closing bell.
Citi Chief U.S. Economist Andrew Hollenhorst, whose economic predictions have tended to be more pessimistic than most, said the economy "is headed at least into a substantial slowdown," but that a recession is more likely. “As that hiring rate comes down, it’s telling us that firms are becoming less and less excited about growing their labor force and the next move that you’d typically see in a cycle is that move towards layoffs," Hollenhorst told Bloomberg Television on Friday.
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