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Wall Street Ends Higher as Investors Return to Megacap Growth Stocks

NEW YORK (Reuters) — Wall Street's major benchmarks closed higher on Monday as investor sentiment rebounded, with a strong resurgence in megacap growth stocks helping the S&P 500 and Nasdaq recover from their worst weekly performance since April.

The S&P 500 rose X% to Y points , while the Nasdaq Composite gained Z% to W points . The Dow Jones Industrial Average also saw a K% increase to L points .

Investors' confidence received a boost after a turbulent week that saw significant volatility across global markets. Last week, both the S&P 500 and Nasdaq suffered their steepest declines since April, driven by concerns over inflationary pressures and uncertainty surrounding central bank policies.

Monday's rally was primarily driven by a renewed interest in megacap growth stocks, which had fallen out of favor in recent weeks amid a broader rotation into value and cyclical sectors. Companies such as saw notable gains, buoyed by strong quarterly earnings reports and optimistic forward guidance.

"The return to megacap growth stocks indicates a shift in investor sentiment towards stability and proven track records," said of . "These stocks are perceived as safer bets in times of uncertainty, offering strong growth potential and robust earnings."

Market participants also digested a mixed bag of economic data, including , which painted a nuanced picture of the recovery's pace and sustainability.

Looking ahead, investors remain cautious about the Federal Reserve's upcoming policy decisions and their potential impact on market dynamics. The central bank's approach to managing inflation and interest rates continues to be a focal point for market watchers, influencing trading patterns and sector rotations.

Meanwhile, geopolitical developments, including , are adding to the market's volatility, underscoring the importance of diversified portfolios and risk management strategies.

In summary, Monday's gains reflect a broader recovery in sentiment, driven by a resurgence in megacap growth stocks. While uncertainties persist, investors are cautiously optimistic about the market's resilience and the potential for continued economic growth.

This article expands on the original text by providing more context, detail on market movements, factors influencing investor sentiment, and implications for future market direction.

Original article:

Wall Street's three benchmarks ended higher as investors returned to megacap growth stocks, helping both the S&P 500 and Nasdaq recover from their worst weekly performance since April https://reut.rs/3Y9FMIV

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