EDITOR'S NOTE

Stocks rallied for a second day Monday as investors tried to end a rocky trading month on a high note.

The Dow Jones Industrial Average added 406.39 points, or nearly 1.2%. The S&P 500 rose 1.8%. The index still ended January down about 5.3% to post its worst month since March 2020. The Nasdaq also posted its worst month since March 2020, despite climbing 3.4% Monday.

Investors continued buying the dip in tech shares, which have led this month's sell-off. Netflix and Spotify surged more than 11% and 13%, respectively, following upgrades from Citi. The firm said it sees January’s pullback as a good buying opportunity.

The Dow also got a boost from the rebound in tech shares. Boeing, however, was the top gainer, with the stock climbing 5% after the aerospace company won a deal with Qatar Airways worth $34 billion.

Investors were mixed on whether stocks’ recent gains suggest the indexes have hit a bottom and are changing direction. Some were optimistic, while others warned bottoms aren’t overnight events and the market could fall further still as the Federal Reserve hasn’t started hiking rates yet.

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