US Stock Market: DJIA, S&P500, Nasdaq and Russell ended slightly up on Monday

Equity markets recovered from a noon dip on Wall Street to finish higher Monday, adding to the market’s recent winning run despite lingering concerns about the global economy’s resiliency in the face of growing inflation and geopolitical tensions.

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The S&P 500 climbed 0.7% after falling as much as 0.6%. The Dow Jones Industrial Average gained 0.3% after trading in the red for much of the day, while the Nasdaq Composite rose from a 0.5% deficit to end at 1.3%. The indices had gained for the second week in a row.

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Trading has remained choppy, even though the market’s recent run of gains, as investors try to gauge what’s next for inflation and the global economy as the repercussions of Russia’s invasion of Ukraine continues to play out.

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The S&P 500 rose 32.46 points to 4,575.52. The index is now down 4% for the year. The Dow gained 94.65 points to 34,995.89, while the Nasdaq rose 185.60 points to 14,354.90. Smaller company stocks were little changed. The Russell 2000 index inched up 0.08 points, or less than 0.1%, to 2,078.06.

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Technology stocks helped power much of the comeback in the benchmark S&P 500 along with retailers, cruise lines and other companies that rely on consumer spending. Microsoft rose 2.3% and Tesla vaulted 8% for the biggest gain in the index.

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Those gains outweighed a pullback in other sectors, including banks, which fell as bond yields eased lower, and energy stocks, which lost ground as crude oil prices closed sharply lower. Citigroup fell 1.4% and Exxon Mobile slid 2.8%.

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U.S. crude oil slumped 7% and Brent crude, the international standard, fell 6.8%. The drop followed the news that China began its most extensive coronavirus lockdown in two years to conduct mass testing and control a growing outbreak in Shanghai. That could put a dent in global demand for energy.

Markets in Europe closed mostly higher, while markets in Asia ended mixed.

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Russian shares slumped as its stock market resumed trading of all companies after a monthlong halt following the invasion of Ukraine. The last full trading session in Moscow was on Feb. 25, a day after the index tumbled by a third after President Vladimir Putin ordered the invasion.

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Bond yields eased back after shooting higher this month. The yield on the 10-year Treasury fell to 2.46% from 2.49% late Friday. Bond yields have been rising as Wall Street prepares for higher interest rates. The Federal Reserve has already announced a 0.25% hike in its key benchmark interest rate and is prepared to continue raising rates to help temper the impacts of rising inflation.