Stocks rose on Monday as investors looked ahead to another big week of corporate earnings. The Dow Jones Industrial Average climbed over 500 points, while the S&P 500 Index and Nasdaq Composite gained 2.5% and 3%, respectively.
Here's how the market settled on Monday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
The session's moves come after a volatile week for Wall Street as market participants reacted to persistently high levels of inflation across the U.S. economy. The S&P 500 just came off its fourth negative week in five, with investors assessing the Federal Reserve's next months ahead of their November policy-setting meeting.
On Monday, U.K. Finance Minister Jeremy Hunt that the country is planning to scrap almost all proposed tax cuts, which had previously sent interest rates soaring the the pound falling against the U.S. dollar.
On the earnings front, Bank of America
For stocks, Roblox
The week ahead is going to be busy on the corporate earnings side, with companies including Netflix
More pain for Wall Street is also expected, at least according to analysts at Barclays
The firm said its most likely scenario for the S&P 500 is to end the year down over 10% from its Monday trade at 3,200. Moveover, in the case of a recession, the S&P could reach loses of 2,982 to close out 2022, nearly 19% lower from its Monday valuation.