The new date is Jun 21, 2022.
Despite the fact that investors are nervous about rising inflation and rising rates leading to a recession, the market moved higher on Tuesday.
Despite recession fears, markets rallied.
After a week of losses, the S&P 500 gained 1.8% and the Dow Jones Industrial Average rose 1.3%.
The S&P 500 fell nearly 6% last week as investors worried that the Federal Reserve's rate hikes would hurt the economy.
The Fed won't be able to achieve a soft landing and will instead plunge the economy into a recession as it scrambles to raise interest rates.
It doesn't take much to erase a market rally these days, which is why equity markets are starting the week on a positive note.
Mike Wilson, Morgan Stanley's chief U.S. equity strategist, told CNBC that markets will have a "really hard time" if the economy goes into a recession.
Some airline stocks rallied on hopes for a rebound in summer travel, while shares of Big Tech companies rebounded despite being hard-hit in recent weeks.
After falling below $18,000 over the weekend, the price of the digital currency rebounded to $20,000 on Monday, but is still 70% off its record highs.
There isn't a single reason for the bounce in equities, and the overwhelming view is dismissing the uptick as being nothing more than dead cat, something that should be faded just like all the other rally attempts recently.
The Federal Reserve raised interest rates last week and markets are still adjusting. It was the central bank's biggest rate increase in 28 years, with Fed Chair Powell suggesting a similar increase for the central bank's next policy meeting in July The S&P 500 is 22% below its record highs at the start of the year, while the Nasdaq is 33% below its highs. The blue chip index fell to its lowest point of the year last Friday after a nearly 5% decline last week.
The Fed chair will give his semiannual report on monetary policy to Congress on Wednesday and Thursday.
The last week of stocks was the worst since March 2020.
How to invest during a recession is a topic discussed by experts.
The stock market plunges as the Fed rally deflates fears that a recession is inevitable.
Powell said the Fed could hike rates by 75 basis points again.
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