Major stock indexes gained Monday as the market looks to build on a surprisingly strong week, though several notable companies, includingTesla and several New York- listed Chinese firms mounted large losses.
Another day of gains is on the way for the stock market.
The S&P 500 gained 1% last week, its best performance in four months, while the tech-laden Nasdaq rose 0.4%.
The gain is largely due to increasing expectations that the Federal Reserve will eventually back off of its aggressive interest rate increase plans as data begins to show some cooling of inflation and Fed officials begin to express hesitation about what rate hikes may mean for the health of the economy overall.
The market reacted strongly to major political news abroad, as several New York- listed Chinese firms mounted big losses after Chinese President Xi Jinping secured a third term in power.
Over the last six weeks, the bond market has dropped to its lowest levels in decades.
The three major U.S. indexes are on pace for their worst year since 2008. The Fed raised the federal funds rate because of the high inflation levels, which resulted in a poor market performance. More than two-thirds of business economists think the US is already in a recession, according to a survey.
There is only a small chance of the U.S. economy going into a recession over the next year. Goldman noted the success thus far in slowing gross domestic product growth and labor demand.
Does the Federal Reserve want you to lose your job? It'sComplicated. There is a magazine called "Forbes."
There are early earnings reports that worry investors.
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