Stocks gain as technology shares outperform, Bitcoin recovers some losses
Stocks rose Monday to recover some of last week’s losses, with investors’ concerns over inflation at least temporarily receding.
The S&P 500 rose by about 0.5% after ending last week lower. The Dow and Nasdaq also opened higher. Technology stocks outperformed as Treasury yields retreated.
Bitcoin (BTC-USD) prices steadied to rise by more than 11%, after the largest cryptocurrency by market cap endured an extended streak of selling over the weekend. At their worst point during the past week’s worth of selling, Bitcoin prices were off by more than 50% from their peak of more than $64,800 from mid-April. Ethereum (ETH-USD), the second largest cryptocurrency, also recovered some recent losses Monday morning, with prices up more than 20% to over $2,400.
The three major indexes are heading into this week following a multi-week stretch of volatile trading. Investors have become…