DJI: Dow Jones Notches 500 Points as Monday Rally Breaks 3-Day Losing Streak

Dow Jones and its two peers overturned last-week’s bearish momentum to emerge as big winners ahead of a jammed week.

• The Dow Jones Industrial Average DJI scored 510 points Monday, or 1.6%, emerging from a tumultuous week. The 30-stock Wall Street benchmark was buoyed higher by traders buying the dip amid a solid earnings season that has been clouded by the ongoing Middle East conflict and soaring long-term bond yields.
• The Dow snapped a three-day losing streak as its two peers, the S&P 500 and the Nasdaq Composite, flipped higher by 1.2% each after both dived in correction territory. Futures contracts early on Tuesday were flashing mostly red as markets were anticipating a busy economic and earnings calendar.
• Looking ahead, the Federal Reserve is expected to hold interest rates steady on Wednesday. The US central bank concludes its two-day gathering with a speech by Fed boss Jay Powell. On Friday, investors will be parsing October’s jobs data – the nonfarm payrolls – for clues into potential tweaks in the Fed’s monetary policy.