U.S. stocks have recovered much of their sharp losses from last week, with the S&P 500 jumping 1.2% in morning trading. The Dow Jones Industrial Average was up 396 points, or 0.9%, as of 10:15 a.m. Eastern time. The pressure is on U.S. companies to deliver bigger profits after their stock prices shot to record after record recently. The jump in stock prices from a low point in April raised criticism that the broad market had become too expensive. Stocks just sank to their worst week since May not so much on that criticism but on worries that Trump’s tariffs may be hitting the U.S. economy following a longer wait than some economists had expected. Job growth slowed sharply last month, and the unemployment rate worsened to 4.2%. Trump reacted to the disappointing jobs numbers by firing the person in charge of compiling them and continuing his criticism of the Federal Reserve, which could lower interest rates in an effort to shoot adrenaline into the economy. This week may feature fewer fireworks on Wall Street following last week’s jobs report and profit updates from several of the U.S. stock market’s most influential companies.
Wall Street rallies and US stocks recover a significant portion of Friday’s wipeout.
