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Monday, May 23, 2022

Stock market news live updates: Stocks rise to recover from bear market brink

U.S. stocks soared Monday, and stocks came out of the seven-week losing line as investors removed the recent volatility and digested new trade-related statements from Biden executives.

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The S&P 500 rose above 0.5% shortly after the market opened. The index closed Friday's session that day but dropped 18.7% from its Jan closing record. 5 to reach the middle of the bear market, which means when the index closes at least 20% from the recent high closing. .

The Dow gained more than 200 points, or 0.8%, while Nasdaq also expanded shortly after the market opened. The move comes after President Joe Biden said he was considering reducing the prices of Chinese goods imposed during the previous administration. Biden 'comments, which he made during a press conference with Japanese Prime Minister Fumio Kishida, came after Treasury Secretary Janet Yellen said last week he was urging Biden officials to remove taxes that he said were "causing serious damage to consumers and businesses" in the U.S.

The potential for price reductions as the US economy pulls over the decades - high inflation rates have helped to at least increase the temporary risk of an asset attacked in recent weeks due to inflation, aggressive Federal Reserve monetary policies and international concerns in Ukraine. and China. As of Friday, the S&P 500 re-posted its seventh consecutive week loss last week in its longest loss since 2001. And in its worst time on Friday, the index dropped a 20.6% drop from its January record high to bear trading. market field.

Since World War II, there have been 12 official S&P 500 bear markets, as well as 17 including “near bear markets,” or times when the index dropped by more than 19%. In this case, the average decline was 29.6%, and took an average of 11.4 months.

However, when bear markets go hand in hand with the recession, they tend to be worse, dropped 34.8% on average and lasted for 15 months, Detrick said. An economic downturn is usually considered after two consecutive quarters of negative GDP growth (gross domestic product).

Traders are set to earn the second quarter of U.S. GDP later this week, reported last month on the first estimate that they have a contract price of 1.4% for the year. Recent economic data has shown some strength, however, with retail sales and certain manufacturing data coming in stronger, while employment data has begun to soften.

"I think the economy is better right now than the stock market tells you," Rhys Williams, Spouting Rock Asset Management Strategist, told Yahoo Finance Live on Friday. "And my guess is that we will deal with both stocks and bonds over the summer."

9:32 a.m. ET: Shares open at the top
Here are some major market movements from 9:31 a.m. ET:

  • Nasdaq (^ IXIC): +48.89 (+ 0.43%) to 11,403.51
  • Crude (CL = F): - $ 0.33 (-0.30%) to $ 109.95 barrel
  • Gold (GC = F): + $ 10.30 (+ 0.56%) to $ 1,852.40 per ounce
  • 10-year Treasury (^ TNX): +5.2 bps to generate 2.8390%


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7:23 a.m. ET: Stock futures gain more than 1%
Future S&P 500 (ES = F): +47.5 points (+ 1.22%) to 3,947.00

  • Nasdaq Future (NQ = F): +127.25 points (+ 1.07%) to 11,968.00
  • Green (CL = F): + $ 1.08 (+ 0.98%) to $ 111.36
  • Gold (GC = F): + $ 16.90 (+ 0.92%) to $ 1,859.00 per ounce
  • 10-year Treasury (^ TNX): +4.6 bps to generate 2.833%

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They just revealed what they believe are the ten best stocks for investors to buy right now…

See the 10 stocks



Courtesy Grizler.com

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