Dow Jones climbs, S&P 500 aims to exit correction on hopes the Fed is finished raising rates

U.S. stocks climbed Monday to begin a holiday-shortened week, with the S&P 500 trading above the level needed to exit correction territory, as investors remained cheered by expectations that the Federal Reserve has finished raising rates.

What’s happening

U.S. stocks closed higher Friday, with the Dow, S&P 500 and Nasdaq Composite each rising for a third straight week. The S&P 500 surged 9.6% over the past three weeks, its largest three-week percentage gain since June 2020, according to Dow Jones Market Data.

accWhat’s

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