Markets

Stocks Recover As Wall Street Adjusts Expectations For Interest-Rate Increase

Wall Street rebounded off its pre-market lows Monday with the Dow Jones Industrial Average today nearly 100 points higher in mid-day trading. The combination of last Friday's bearish jobs report, dovish comments by the president of the New York Federal Reserve and mixed data from the services sector raised doubts for a June rate hike, leaving stocks higher and the dollar lower. Interest-rate sensitive securities were faring best, especially utility stocks, while energy shares were also rising on the back of a $2 increase in the price for a barrel of oil.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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