Stocks Snap Back After Four-Day Slide; Bonds Fall: Markets Wrap
- Fed’s Bowman says more hikes may be needed to lower inflation
- Majority in MLIV Pulse survey sees US recession by end of 2024
This article is for subscribers only.
Stocks rebounded after posting their worst week since March as earnings rolled in. Treasuries fell as remarks from a Federal Reserve official signaled interest rates could remain higher for longer to tame inflation pressures.
The S&P 500 halted a four-day drop while the Dow Jones Industrial Average saw its biggest advance in more than seven weeks. Berkshire Hathaway Inc. hit a record as its results beat estimates. Amazon.com Inc. rose after a news report it will meet with the Federal Trade Commission to avoid an antitrust lawsuit. Tesla Inc. slid as its chief financial officer stepped down in a surprise shakeup at Elon Musk’s company. Apple Inc. notched its longest losing streak this year.