Stocks Rally as U.S. Markets Rebound After Last Week’s Losses
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Stocks Rally as U.S. Markets Rebound After Last Week’s Losses

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Azeez Mustapha

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Stocks are making a recovery after experiencing their worst week in nearly a year and a half. The S&P 500 climbed 0.8% in early Monday trading, recovering from a four-day losing streak. The Dow Jones Industrial Average gained 264 points, while the Nasdaq composite advanced by 1%.

Boeing shares surged 3.9% after successfully negotiating a new contract with its largest union. Meanwhile, bond market yields held steady after fluctuating last week due to a weaker-than-expected jobs report that raised concerns about the economy.

Boeing and Stocks Surge Amid Union Deal

Following the steepest drop in trading in almost 18 months, Wall Street markets are showing signs of recovery as Monday’s trading begins. Futures for the S&P 500 and Dow Jones Industrial Average both rose by 0.7% in premarket activity.
Stocks Rally as U.S. Markets Rebound After Last Week’s Losses Boeing saw a 4.1% rise in its stock after reaching a tentative agreement with its largest union on a new contract. The deal, if ratified, will secure wage increases of 25% over four years for 33,000 workers represented by the International Association of Machinists and Aerospace Workers, potentially averting a strike that could disrupt aircraft production.

Discount retailer Big Lots also made headlines, filing for Chapter 11 bankruptcy protection while announcing its plans to sell its assets to Nexus Capital Management. Despite the bankruptcy filing, Big Lots shares surged by more than 9% on Friday after the company postponed its second-quarter earnings report.

Apple’s iPhone Launch and Global Market Updates

Today, Apple has unveiled its much-anticipated iPhone 16, which is expected to feature significant advancements in artificial intelligence, particularly improvements to its virtual assistant, Siri. Before the announcement, Apple shares remained unchanged in premarket trading.
Stocks Rally as U.S. Markets Rebound After Last Week’s Losses On the international front, European markets saw modest gains, with France’s CAC 40 up 0.7%, and Germany’s DAX and Britain’s FTSE 100 both rising by 0.6%. Japan’s Nikkei 225 index slipped 0.5% to close at 36,215.75, as revised data showed the country’s GDP growth fell short of expectations at 2.9% for the second quarter.

In China, stocks struggled as disappointing inflation data weighed on investor sentiment. The Hang Seng index in Hong Kong dropped 1.4%, while the Shanghai Composite index lost 1.1%. Australia’s S&P/ASX 200 and South Korea’s Kospi also posted losses.

As the week progresses, all eyes are on the upcoming U.S. government inflation report, which is expected to provide further insight ahead of the Federal Reserve’s policy meeting. Analysts are anticipating the first interest rate cut in over four years as the central bank continues its efforts to combat inflation.

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