San Francisco Chronicle

BUSINESS NEWS ROUNDUP Stocks have 2nd good day

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Stocks powered higher Monday, sending the Dow Jones industrial average up 410 points, as the market clawed back more of its losses from the past two weeks.

Apple jumped 4 percent and led a rally in technology companies, while industrial companies, banks and consumer-focused companies like retailers also rose.

Netflix and Amazon surged again as stocks that led the market higher in 2017 recovered more of the ground they lost recently. Energy companies got some relief as oil prices turned higher. All of that helped stocks build on the market’s gains from late Friday.

Some market watchers say the recent bout of turbulence may not be over. Jim Paulsen, chief investment strategist for the Leuthold Group, said he thinks stocks and bonds will fall further as investors consider the likelihood that interest rates will keep rising and inflation will increase. Inflation and higher wages can cut into company profits, and higher interest rates slow down economic growth.

The Standard & Poor’s 500 gained 1.4 percent to 2,656. The Dow climbed 1.7 percent to 24,601.27. The Nasdaq composite advanced 1.6 percent to 6,981.96. The Russell 2000 index of smallercom­pany stocks rose 0.9 percent to 1,490.98.

Despite the recovery, the S&P 500 is down 7.5 percent from its record high, and investors expect far more volatility in the stock market than they did two weeks ago.

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