US stocks rose as investors returned from a long weekend, with rising capitalization and energy companies rising sharply. read more Expectations of interest rate hikes from the major central banks and worries about a global recession have kept investors at the forefront. Central banks are expected to pursue tighter policies to combat high inflation. Sign up now for FREE unlimited access to Reuters.com Register The Dow Jones Industrial Average (.DJI) gained 593.18 points or 1.98%, to 30,481.96, the S&P 500 (.SPX) gained 98.72 points or 2.69%, to 3,773.56 and Nasdaq 3.3.3 or Composite added .IX5IC19 (.%, To 11,153.53. The pan-European STOXX 600 index (.STOXX) rose 0.44% and the MSCI Worldwide Index (.MIWD00000PUS) gained 2.12%. “The market could already have been priced in a shallow recession in a sense … You had negative GDP in the first quarter, so it is likely that the second quarter will be negative, so the recession could possibly be in the reversing mirror. said Thomas Hayes, chief executive of Great Hill Capital in New York. All eyes are now on Fed Chairman Jerome Powell’s statement to the Senate Banking Committee on Wednesday on interest rate data. Goldman Sachs said it now believes there is a 30% chance the US economy will slide into recession next year, up from its previous forecast of 15%. read more In the foreign exchange market, the Japanese yen fell against the US dollar to its lowest level in nearly 24 years at 136,330 yen per dollar. read more Japanese Prime Minister Fumio Kishida has said that the central bank must maintain its current extremely loose monetary policy. This makes it extreme among other major central banks. read more Yields on US bonds were slightly higher as the risk function that weighed on US markets last week took a breather. The 10-year benchmark yields were at 3.297%, up from a close of 3.239% at the end of last week. US crude recently rose 2.35% to $ 112.13 a barrel and Brent to $ 115.98, up 1.62% on the day. The gold spot rose 0.1% to $ 1,839.80 an ounce. Sign up now for FREE unlimited access to Reuters.com Register Additional reports from Elizabeth Howcroft in London. also by Devik Jain and Anisha Sircar. Editing by Louise Heavens, Chizu Nomiyama and Mark Heinrich Our role models: The Thomson Reuters Trust Principles.
