Stock market today: Wall Street climbs as Big Tech recovers following worst week in months
U.S. stocks closed broadly higher, clawing back some of the losses from their worst week since April
NEW YORK — U.S. stocks closed broadly higher, clawing back some of the losses from their worst week since April. The S&P 500 rose 1.1% Monday, breaking a three-day losing streak. It was the first gain for the index since setting an all-time high early last week. The Dow Jones Industrial Average added 0.3%, and the Nasdaq composite gained 1.6%. Big Tech stocks regained some of their sharp drops from last week. Treasury yields mostly rose in the bond market after President Joe Biden said he won’t run for re-election. The yield on the 10-year Treasury note rose to 4.26%.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
U.S. stocks are broadly higher Monday, clawing back some of the losses from their worst week since April.
The S&P 500 was up 1.1% in afternoon trading and on track to break a three-day losing streak. It would be the first gain for the index since it set an all-time high on Tuesday.
The Dow Jones Industrial Average was up 123 points, or 0.3%, as of 2:33 p.m. Eastern time, and the Nasdaq composite climbed 1.7%.
Nvidia rose 4.8%, and other Big Tech stocks likewise regained some of their sharp drops from the week before to support the market. They had sputtered amid criticism they’d grown too expensive after rocketing so high and being the main reasons for Wall Street's run to records. Two of them, Alphabet and Tesla, will report on Tuesday how much profit they earned during the spring in a big test. They each rose at least 2.7%.
Treasury yields mostly rose in the bond market after President Joe Biden said he won’t run for re-election. The move could cause the unwind of some of the market’s
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