Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

U.S. Stocks Gain as Investors Try to Shake Off Last Week's Losses

Stock Markets May 23, 2022 09:56AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.
 
XAU/USD
-0.03%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
US500
-2.25%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DJI
-1.69%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
BAC
-1.29%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
JPM
-1.80%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
SBUX
-0.86%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Liz Moyer

Investing.com -- U.S. stocks rose on Monday, trying to recover from last week's losses as global business and political leaders meet in Davos, Switzerland, for the annual World Economic Forum meeting, which is being held in person for the first time since the pandemic started.

At 10:52 AM ET, the Dow Jones Industrial Average was up 472 points, or 1.5%, while the S&P 500 was up 1% and the NASDAQ Composite was up 0.2%.

Helping the sentiment were comments from President Joe Biden that the U.S. was examining tariffs on China that could be reduced or eliminated. Biden wasn't at Davos, but he was traveling in Asia. 

In a CNBC appearance at Davos, Bank of America CEO Brian Moynihan said "There’s a lot of fear and worry about the Fed tightening," in reference to rising interest rates. "The fear is going up. But the reality is, no one’s really saying there’ll be a recession in 2022 or 2023 yet. We’ll see what happens there."

The S&P 500 dipped briefly into bear market territory on Friday as part of a prolonged selloff in stocks that began earlier this year while investors braced for the effects of rising rates and the erosion of inflation on their spending power.

Shares of cloud computing company VMware Inc (NYSE:VMW) jumped 18% on a report it was in advanced talks with Broadcom Inc (NASDAQ:AVGO) about a takeover, The Wall Street Journal reported. And Starbucks Corporation (NASDAQ:SBUX) shares inched up 0.1% after it said it was exiting Russia after 15 years.

Banks were also in the headlines. Bank of America Corp (NYSE:BAC) shares rose 3%. It is raising its minimum hourly pay in the U.S. to $22. JPMorgan Chase & Co (NYSE:JPM) shares rose 3% after it raised its outlook for net interest income.

Oil ticked higher.Crude Oil WTI Futures was up 0.3% to $110.55 a barrel, while Brent Oil Futures crude rose 0.3% to $110.32 a barrel. Gold Futures rose 0.7% to $1,854 an ounce.

U.S. Stocks Gain as Investors Try to Shake Off Last Week's Losses
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (4)
William Hineser
William Hineser May 23, 2022 1:47PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Or a dead cat bounce.
Kerry Ditto
Kerry Ditto May 23, 2022 11:19AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
FOMO BUYING going on. Up is good.
Antonio Velardo
Antonio Velardo May 23, 2022 10:06AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
In fact is not going up at all.
Bauer Lages
Bauer Lages May 23, 2022 10:04AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Every day the same news,and after 30 minutes you have to change to us slips as something
Richard Jonkergouw
Richard Jonkergouw May 23, 2022 10:04AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I totally agree, and it's annoying cause it confuses. Nonetheless, what else could they write? It's like the commentator of a football match. It changes all the time... And now the retailers come in, and now China this, and now the energy, and now the banks, and now Biden, and now Terra, and the war... , and now.... Yes, yes, the rate hikes... Yes score!! And then the monkey's disease, oh no,... More covid! . They have to write something... And then they talk about double wedge shoulder, and hanging willy models, pure mathematic analysis, as if macroeconomic factors don't matter. I guess it all influences each other, so maybe I should study a bit more cause I have ran into big losses.I wonder sometimes what volume (percentage) of all trading is auto trading...
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email