NEW YORK—Wall Street soared to its best day in months Monday in a widespread relief rally after some unexpectedly weak data on the economy raised the possibility that the Federal Reserve won’t have to be so aggressive about hiking interest rates.
The S&P 500’s leap of 2.6 percent was its biggest since July, the latest swing for a scattershot market that’s been mostly falling this year on worries about a possible global recession. Wall Street’s main measure of health was coming off its worst month since the coronavirus crashed markets in early 2020 and is still down nearly 23 percent for the year.
