Stocks rose on Monday as traders look ahead towards key economic reports this week and slightly recovered from Wall Street's worst week of the year so far. The Dow Jones Industrial Average climbed over 375 points, while the S&P 500 Index and Nasdaq Composite rose about 1% and 1.5%, respectively.
Here's how the market settled on Monday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
Investors are preparing for more inflation data this week, with January's consumer price index report slated for release Tuesday morning. Many analysts are expecting the report to show more signs of inflation cooling that may cause the Federal Reserve to pause or pivot interest rate hikes sometime this year.
Other key economic reports due out this week include retail sales data for last month on Wednesday and a reading of the producer price index for January set for Thursday. The week ahead also is stocked with earnings reports from companies including Airbnb
In stock news on Monday, Sorrento Therapeutics
In an email Monday to employees, CEO Jeff Lawson said the additional layoffs were driven by the need to reorganize the company in order to succeed in the current macroeconomic environment, CNBC reports.