Stock market shows glimmer of hope in early Monday trading

May 23 (UPI) — Wall Street started Monday with a surge in early trading as it tried to dodge falling into bear market territory with all three indexes showing solid gains.

The Dow Jones Industrial Average showed more than a 2% gain early Monday afternoon as it soared more than 600 points. The S&P 500 rose nearly 2%, gaining roughly 70 points.


The tech-dependent Nasdaq gained more than 160 points, or almost 1.5%.

The market followed trends in Japan, Germany and London, which all showed gains at or near the end of their trading days.

The early trading was a glimmer of hope after the market had been taking a beating lately. On Friday, U.S. stocks marked the longest streak of weekly losses since 2001 by the end of trading Friday as the S&P 500 briefly dropped into the bear market territory.

An index is considered to have entered a bear market when it drops 20% from its last peak.