U.S. Stocks Jump, Send Nasdaq Higher for the Year: Markets Wrap
- Dollar’s decline helps support prices for raw materials
- Investor focus turns to U.S. inflation outlook and rates
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U.S. stocks surged, with financial markets showing signs of recovery after the worst week in two years for American equities.
The 10-year yield fell back from the four-year high hit earlier Monday as the dollar slipped. The Nasdaq Composite Index turned positive for 2018, with the Dow Jones Industrial Average and the S&P 500 now down less than 1 percent since the end of December. Stocks and bonds have been in a tug-of-war since a blowout jobs report early this month sent Treasury yields spiking, raising the specter of higher interest rates to come.