US stocks close out January with gains

S&P 500 ends higher after seeing its worst month since March 2020

By Gokhan Ergocun

ISTANBUL (AA) - Major US stock indexes posted gains on the last trading day of January, bringing to a close a tumultuous month characterized by worries over interest rate hikes by the Federal Reserve, inflationary concerns and developments related to the coronavirus pandemic.

Tensions between Russia and Ukraine also affected markets.

But stocks rose as investors braced for a packed week of corporate earnings and economic data.

The blue chip Dow Jones Industrial Average ended up 1.17%, or 406.39 points, at 35,131.

The S&P 500 gained 83.7 points, or 1.89%, to close at 4,515 after seeing its worst month since March 2020, when the index hit bottom after the coronavirus pandemic essentially shut down the global economy.

The tech-heavy Nasdaq increased 469.31 points, or 3.41%, to 14,239.

Asian and European markets also closed Monday mostl on the positive side, while Turkiye's BIST 100 index closed at 2,003.20 points, up 1.01%.

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