Wall Street ends higher following 7 straight weeks of losses
May 22, 2022
NEW YORK (AP) — Stocks closed broadly higher Monday, an upbeat start to the week on Wall Street after seven weeks of declines that nearly ended the bull market that began in March 2020.
The S&P 500 rose 1.9%, with technology and financial sector stocks doing much of the heavy lifting for the benchmark index. The Dow Industrial Average rose 2% and the Nasdaq climbed 1.6%.
The recent heavy selling on the market has primed traders to snap up big tech stocks and shares in other companies that had been high flyers before the market's punishing skid, said Quincy Krosby, chief equity strategist...