Wall Street soars to best day since summer, S&P 500 up 2.6%
By DAMIAN J. TROISE and STAN CHOE
AP Business Writers
NEW YORK (AP) – Wall Street rallied to its best day since July as falling bond yields eased some of the pressure that’s battered markets.
The S&P 500 rose 2.6% Monday, the latest swing for a scattershot market that’s been mostly falling this year on worries about a possible global recession.
Treasury yields fell after a report on U.S. manufacturing came in weaker than expected.
That could mean the Federal Reserve won’t have to be so aggressive about raising interest rates to beat down the high inflation damaging households’ finances, but analysts still see plenty more turbulence ahead.