Stocks Snap 4-Day Losing Streak

Stocks closed higher on Wall Street on Monday, ending a four-day losing streak.

• The S&P 500 rose 62.63 points, or 1.2%, to 5,471.05. . The benchmark index is coming off its worst week in nearly a year and a half.
• The Dow Jones Industrial Average rose 484.18 points, or 1.2%, to 40,829.59.
• The Nasdaq composite rose 193.77 points, or 1.2%, to 16,884.60.

Boeing helped lead the market after reaching a tentative deal with its largest union on a new contract, the AP reports. It climbed 3.4% after reaching a deal that if ratified, will avoid a strike that threatened to shut down aircraft production by the end of the week. Boeing said 33,000 workers represented by the International Association of Machinists and Aerospace Workers would get pay raises of 25% over the four-year contract.

Palantir Technologies jumped 14% in its first trading after S&P Dow Jones Indices said it would add the company to its widely followed S&P 500 index. Dell Technologies rose 3.8%, and Erie Indemnity fell 0.6% after they likewise got a notice of promotion to the index. Trading in Big Lots was halted after the discount retailer filed for Chapter 11 bankruptcy protection and said it plans to sell its assets and ongoing business operations to private equity firm Nexus Capital Management.

This upcoming week will feature the latest monthly updates on inflation at the consumer and wholesale levels. Such reports used to be the most anticipated economic data of each month, but market watchers say they're now taking the back seat to updates on the job market because of worries about a possible recession.

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