NEW YORK (AP) – Stocks are rising after a big sell-off late last week as investors worried about higher interest rates.
The market had slumped on Friday after a strong jobs report boosted expectations that the Federal Reserve would raise rates this summer.
General Motors gained 3 percent after announcing a $5 billion stock buyback to appease an activist investor.
The Standard & Poor’s 500 index rose seven points, or 0.4 percent, to 2,078 as of 11:45 a.m. Eastern time Monday.
The Dow Jones industrial average climbed 138 points, or 0.8 percent, to 17,994. The Nasdaq composite rose six points, or 0.1 percent, to 4,933.