U.S. stocks jumped Monday as Wall Street recovered some of the steep losses suffered last week.
The Dow Jones Industrial index leaped 537.18 points, or 1.3%, to break for lunch Monday at 40,882.59.
The S&P 500 index regained 57.42 points, or 1.1%, to 5,465.84.
The NASDAQ climbed 161.05 points, or 1%, to 16,851.90.
Boeing shares led the way higher for the Dow, rising 3%. American Express and Caterpillar also advanced. Industrials, discretionary and energy names led the S&P 500 higher as investors leaned into the market rotation.
This week, investors will watch out for two key inflation reports that could further inform the Federal Reserve’s decision at its next open market committee meeting. August’s consumer price will see the light of day Wednesday, and the producer price report is slated for release on Thursday morning.
Prices for the 10-year Treasury gained some ground, lowering yields to 3.70% from Friday’s 3.72%. Treasury prices and yields move in opposite directions.
Oil prices took on 72 cents to $68.39 U.S. a barrel.
Gold prices picked up $2.70 to $2,527.30.
