Wall Street had a good Monday. Did local stocks join in the parade of gains?

Wall Street had a good Monday. Did local stocks join in the parade of gains?

The value of 18 stocks on our Huntsville & Alabama Stock Report increased Monday as the S&P 500 closed at its highest level in more than a year.

Community Health Systems, which has six Alabama hospitals, saw the sharpest increase of the day, rising 5.7% to close at 3.91 per share.

Automakers Honda and Toyota also saw gains.

The U.S. stock market has been cruising on hopes the economy may avoid a recession and the Federal Reserve may soon take it easier on its hikes to interest rates.

Traders are betting the Fed will hold rates steady at its next meeting, which concludes on Wednesday. That would be the first time it hasn’t hiked rates at a meeting in more than a year.

Investors see high-growth stocks as some of the biggest beneficiaries of lower rates, and they led the market Monday. Tech stocks alone accounted for more than half the S&P 500′s gain, powered by gains of at least 1.5% for both Microsoft and Apple.