- Stocks made gains on Monday, with Wall Street extending the momentum from the previous session's strong performance as traders adjusted their expectations for Federal Reserve rate cuts. The Dow Jones Industrial Average rose by 176.59 points, or 0.46%, closing at 38,852.27, marking its fourth consecutive winning session. Meanwhile, the S&P 500 advanced 1.03% to end at 5,180.74, and the Nasdaq Composite gained 1.19% to reach 16,349.25.
-
The positive market sentiment followed the release of fresh nonfarm payrolls data on Friday, which showed fewer-than-expected jobs added in April, coupled with an increase in unemployment. This news eased concerns about an overheating economy and contributed to Monday's upbeat mood on Wall Street.
السبب في أهمية الخبر
Analysts noted that Monday's momentum was a reaction to Fed Chair Jerome Powell's recent statement ruling out a rate hike as the central bank's next move, which reassured investors.
