Market Snapshot: U.S. stocks edge higher as investors look to extend ‘soft landing’ rally

by | Jan 9, 2023 | Stock Market

U.S. stocks pulled back from session highs but remained in positive territory Monday afternoon, as investors looked to extend gains logged at the end of last week after a slowdown in wage growth sparked hopes of a “soft landing” for the economy as the Federal Reserve continues its inflation-fighting efforts. Skeptics see the bounce as part of what’s likely to be a continued tug of war between market participants and Fed officials who have underlined their expectations that the economy will need to see a period of substantial slowing to ultimately quell inflation.

How are stocks trading
The Dow Jones Industrial Average
DJIA,
-0.23%
was up 52 points, or 0.2%, to 33,683, after rising nearly 305 points at its session high.

The S&P 500
SPX,
+0.20%
rose 28 points, or 0.7%, to 3,924.

The Nasdaq Composite
COMP,
+0.97%
advanced 186 points, or 1.8%, to 10,755.

Stocks rose sharply on Friday, turning major indexes positive for the week. The Dow and S&P 500 each posted a 1.5% weekly rise, while the Nasdaq Composite advanced 1%.What’s driving markets The first full week of trading for th …

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