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
was up 52 points, or 0.2%, to 33,683, after rising nearly 305 points at its session high.
The S&P 500
rose 28 points, or 0.7%, to 3,924.
The Nasdaq Composite
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 …