Stock Market Opens Higher After Weekly Loss

U.S. stocks rose on Monday, at least temporarily changing direction after more than two months of volatility and losses.

The S&P 500 climbed 1.4% in morning trading, while the Dow Jones Industrial Average rose abouat 1%.

The technology-focused Nasdaq Composite Index was 1.7% higher. The three indexes fell Friday after data showed hiring growth slowed in May, though employers still added a strong 390,000 jobs.

Investors are watching economic data closely for clues about the Federal Reserve’s path for raising interest rates.

Fears that the Fed could aggressively raise rates and potentially drive the economy into recession have stoked volatility in global markets this year.

Trading has been quieter in recent weeks as investors gear up for coming central bank decisions and crucial economic data.

The Dow industrials fell 0.9% last week, the smallest weekly change for that index in about a month. The S&P 500 lost 1.2% last week while the Nasdaq ended down 1%.

“We seem to be in a kind of wait-and-see mode,” said Craig Erlam, senior market analyst at Oanda in London.

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