About: http://data.cimple.eu/news-article/2007f9605fdc06184d9ed1382c9004227c51c9baba0cd8b87bfd7639

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About: http://data.cimple.eu/news-article/2007f9605fdc06184d9ed1382c9004227c51c9baba0cd8b87bfd7639 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Wall Street stocks rallied Monday, staging a strong bounceback from last week's rout that was led by financial, industrial and energy shares. "The market is correcting the overcorrection from last week," Maris Ogg of Tower Bridge Advisors said of Monday's session. The Dow last week suffered its worst week since October 2020, dropping 3.4 percent, due in part to unease at the Federal Reserve's shift towards a more hawkish stance on monetary policy. But the blue-chip index led the market Monday, winning 1.8 percent to finish at 33,876.97. The broad-based S&P 500 gained 1.4 percent to 4,224.79, while the tech-rich Nasdaq Composite Index advanced 0.8 percent to 14,141.48. Investors were rattled last week when the Fed moved up its forecasts for raising interest rates, while still arguing that consumer price increases were transient. John Williams, head of the Federal Reserve Bank of New York, said at a gathering Monday that he still thinks higher prices are due "mostly" to factors connected with the reopening of the economy. These stresses should abate over time, but the Fed will continue to monitor incoming data, he said. Fed Chair Jerome Powell is scheduled to appear before a congressional panel Tuesday. This week's calendar also includes economic reports on durable goods orders and new home sales. Investors are also monitoring talks in Washington on a bipartisan infrastructure package. jmb/st
schema:headline	US stocks bounce back from rout, Dow +1.8%
schema:mentions	S&P 500 Index This Week (American TV program) Energy policy Tower Bridge Ogg Industry Federal Reserve University of Washington New York City Worst Week Monetary policy Jerome Powell NASDAQ Composite
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-06-21 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	60 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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