Stocks are rallying Monday, clawing back some of their losses from Wall Street’s worst week since early December.
The S&P 500 was 1% higher in morning trading and on pace for just its second gain in the last seven days. The Dow Jones Industrial Average was up 320 points, or 1%, at 33,137, as of 10:30 a.m. Eastern time, while the Nasdaq composite was 1.2% higher.
Stocks have struggled in February after a strong start to the year as reports have shown inflation and much of the overall economy are staying more resilient than expected. While the strong economic data calms fears that a recession may be imminent, it also has forced Wall Street to raise its forecasts for how high the Federal Reserve will take interest rates and how long it will keep them there.