Wall Street ends higher following 7 straight weeks of losses

Friday, May 20, 2022, Vol. 46, No. 20

NEW YORK (AP) — Stocks closed higher on Wall Street Monday following seven weeks of declines that nearly ended the bull market that began in March 2020.

The S&P 500 rose 1.9%, the Dow Jones Industrial Average rose 2% and the Nasdaq rose 1.6%. Banks and technology stocks made some of the strongest gains.

Concerns about inflation have been weighing on the market and have kept major indexes in a slump recently. The S&P 500 is coming off its longest weekly losing streak since the dot-com bubble was deflating in 2001.

The yield on the 10-year Treasury, which helps set mortgage rates, rose to 2.86%.