Posted by on January 23, 2023 4:47 pm
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Nasdaq jumps 2%, Dow closes 250 points higher as investors weigh Fed rate path

(CNBC) — Stocks rose Monday as investors contemplated a potential slowdown in interest rate hikes from the Federal Reserve and braced for a busy week of earnings.

The Nasdaq Composite surged 2.01% to finish at 11,364.41, while the Dow Jones Industrial Average rose 254.07 points, or 0.76%, to end at 33,629.56. The S&P 500 added 1.19% to settle at 4,019.81.

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Shares of Tesla and Apple gained on hopes that a reopening in China would boost their businesses. Both big tech names recently grappled with temporary shutdowns and blows to production as the country dealt with surging Covid-19 cases.

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