Wall Street stocks showed signs of recovery on Monday, with the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all posting gains. This recovery comes after worries about the Federal Reserve’s “higher for longer” interest rate strategy. The 10-year Treasury yield also reached its highest level since 2007, closing above 4.5%. Investors are now focusing on the upcoming release of the PCE inflation data to gain more insight into the Fed’s rate path. Additionally, there are concerns about a potential government shutdown and its impact on the economy. Media stocks were affected by a tentative deal to end the Hollywood writers strike, while uncertainty remains around the autoworkers strike. Chinese property developers’ growing debt woes also sparked concerns about the world’s second-largest economy. Individual stock news includes Amazon’s deal to invest up to $4 billion in AI startup Anthropic and the EU antitrust regulator blocking Booking Holdings’ proposed $1.7 billion acquisition of Etraveli. Overall, the market is starting the last week of September on a slightly positive note.
Stocks rise as Wall Street halts Fed-fueled hangover: Stock market news today