


U.S. stocks climbed again on Monday as Wall Street’s wild roller-coaster ride veers back upward.
The S&P 500 rose 0.6% for a second straight gain after it fell 10% below its record late last week. The Dow Jones industrial average climbed 353 points, or 0.9%, and the Nasdaq composite added 0.3%.
More big swings could be ahead, with a decision by the Federal Reserve on interest rates coming later in the week and worries continuing about President Donald Trump’s trade war.
A report on Monday said U.S. retailers broadly saw weaker revenue last month than economists expected, but it may not have been quite as bad as it seemed on the surface.
Much of the shortfall in growth versus expectations was due to weaker-than-forecast sales of automobiles and lower fuel costs. Outside of them, the performance was closer to expectations.
Treasury yields initially rose immediately following the report’s release.
On Wall Street, Intel climbed 6.8% to extend its gains after the chip company named former board member and semiconductor industry veteran Lip-Bu Tan as its CEO last week.
PepsiCo added 1.9% after saying it agreed to buy Poppi, a prebiotic soda brand, for a net $1.65 billion.
They helped offset a 4.8% drop for Tesla. The electric-vehicle company’s stock has been struggling this year amid worries that its brand has become too intertwined with Elon Musk, who has been leading efforts to cut spending by the U.S. government.
All told, the S&P 500 rose 36.18 points to 5,675.12. The Dow gained 353.44 to 41,841.63, and the Nasdaq composite climbed 54.58 to 17,808.66.
In the bond market, Treasury yields were mixed. The yield on the 10-year Treasury went from 4.28% shortly before the release of the retail sales report to nearly 4.33% immediately afterward. It then pulled back to 4.29%, down from its 4.31% level late Friday.
— Associated Press