US stocks climb after big rebound last week as investors look for signs of a market bottom

• US stocks climbed Monday, continuing the momentum from Friday's rally.
• Stocks enjoyed a rare weekly gain last week but are still on track for a dismal first half of 2022.

US stocks edged higher Monday, continuing to build on the momentum from Friday's rally which capped off a rare winning week for major indexes.

Last week, the Dow climbed 5.4%, the S&P 500 increased 6.5%, and the Nasdaq jumped 7.5%.

That comeback was the first positive week since May the major US indexes. Still, stocks are on track for one of the worst first six months of the year in decades as investors navigate challenges stemming from a seismic shift in central bank policy.

Here's where US indexes stood as the market opened 9:30 a.m. on Monday:

• S&P 500>$4: 3,920.48, up 0.22%

• Dow Jones Industrial Average>$4: 31,531.21, up 0.1% (30.53 points)

• Nasdaq Composite>$4: 11,635.20, up 0.26%

Legendary investor Howard Marks recommended investors snap up cheap assets now, as "waiting for the bottom is a terrible idea," he told the Financial Times.

In crypto, Goldman Sachs is looking to raise $4 at discounted prices should the digital asset lender go bankrupt, according to CoinDesk. The bank is approaching Web3 funds and traditional financial institutions to gauge interest, per the report.

Meanwhile, Bank of America forecasted that $4 in a recession — but also said more European sanctions on Russia could push prices up to $150.

Overseas, G7 nations met Sunday to $4, and talks are set to continue Monday. The leaders aim to recruit other nations to join the move, including India and South Africa, the Financial Times reports.

Oil inched higher, with $4 up 0.23% to $107.86 a barrel. $4, the international benchmark, moved up 0.30% to $113.37 a barrel.

$4 edged higher 0.175% to 1,833.50 per ounce. The $4 rose 6.3 basis points to 3.187%.

$4 slipped 0.11% to $21.244.29.