Stock market news live updates: Stocks rebound as China’s economy lags

U.S. stocks clawed back from a downbeat start to the trading week Monday as Wall Street looked to extend a summer rally that saw equity markets log their longest winning streak in 10 months in Friday’s session.

The S&P 500 rose 0.2% after the benchmark index marked its fourth straight week of gains, officially recouping half of its bear market losses this year. The Dow Jones Industrial Average added 110 points, or roughly 0.3%, and the Nasdaq Composite gained 0.4%.

Shares of Disney (DIS) jumped 2.7% after Daniel Loeb’s Third Point revealed a new stake in the company and urged CEO Bob Chapek in a letter to make a series of changes, including integrating Hulu directly into the Disney+ DTC platform and acquiring Comcast’s remaining minority stake before the early 2024 deadline. The letter also recommended ESPN be spun off to shareholders to help its parent company pay off debt.

The Federal Reserve Bank of New York’s general business conditions index, a measure of the state’s…

Continue Reading →

This article was written by and originally published on finance.yahoo.com