There’s relief for investors with U.S. stocks ending higher on Monday, following Wall Street’s longest streak of weekly declines since the dotcom crash over 20 years ago
Gains from banks and a rebound in tech shares supported the rally.
All three of the major stock indexes rose between 1.6 and 2 percent, led by Apple and Microsoft.
This is a stark difference from last week.
On Friday, the S&P 500 closed over 18 percent below its record closing high back in January.
Markets have been the victim of persistently high inflation and attempts by the Federal Reserve to rein it in.
On a global scale, the economy is also still trying to cope with the ongoing fallout from Russia’s invasion of Ukraine.
But it appears investors are becoming less concerned about rising inflation and the Fed’s attempts to deal with it.
On Wednesday, the key U.S. banking authority will give the public an insight into its state of mind when it releases minutes from the latest policy meeting.
