The S&P 500 climbed 24.34 points, or 0.6%, to 4,296.12 after erasing an early 1.7% loss.
Stocks have been shaky recently, with the S&P 500 coming off a three-week losing streak, amid worries about the quick jump in interest rates coming from the Federal Reserve as it tries to rein in high inflation.
And because they’re among the biggest companies by market value, their movements hold the most sway over the S&P 500.
stocks had been on track to follow global markets lower, particularly in China, over worries that strict lockdown measures there might crimp the world’s second-largest economy and potentially hurt global economic growth.
China’s capital, Beijing, began mass testing of more than 3 million people on Monday and restricted residents in one part of the city to their compounds, sparking worries of a wider lockdown similar to Shanghai.
The yield on the 10-year Treasury, which affects rates on mortgages and other consumer loans, dropped to 2.82% from 2.90% late Friday.
Lower yields tend to benefit high-growth stocks the most, because investors become more willing to pay high prices when they’re not losing much in interest if they’d bought bonds instead.
The chair of the Federal Reserve has indicated the central bank may hike short-term interest rates by double the usual amount at upcoming meetings, starting next week.