Stocks rose on choppy trade Monday as Wall Street looked to recover from its worst week in three months. The Dow Jones Industrial Average climbed almost 200 points, while the S&P 500 and Nasdaq Composite rose 0.7% and 0.76%, respectively.
Here's how the market settled on Monday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
Stocks dropped last week as higher-than-expected inflation data ignited a sharp sell-off as investors fear the Federal Reserve will spark a recession in its efforts to stabilize prices. The S&P 500 dropped 4.7% for the week, while the Dow fell 4.1% and the Nasdaq tumbled 5.5%.
Investors are preparing for the central bank's upcoming two-day policy meeting starting Tuesday and concluding Wednesday with a speech from Fed Chair Jerome Powell. The Fed is expected to deliver another 75-basis-point interest rate hike.
Wall Street is also being cautious ahead of the third-quarter earnings season, as shipping giant FedEx
In economic news, homebuilder sentiment fell three points to 46 in September, according to the National Association of Home Builders/ Wells Fargo Housing Market Index. Readings below the neutral level of 50 are considered negative. September's reading also marked the ninth straight month of declines.
"Buyer traffic is weak in many markets as more consumers remain on the sidelines due to high mortgage rates and home prices that are putting a new home purchase out of financial reach for many households," said NAHB Chair Jerry Konter in a statement.
Despite falling homebuilder sentiment, stocks including D.R. Horton
Elsewhere for stocks, Opendoor Technologies
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