stocks continued to rally during early tuesday trading following one of their best trading days of 2022 as the market shakes off its worst fears that sent the market tumbling in september – though some warn the rally will be shortlived the dow jones industrial average rose 14 400 points and is up 4 on the week after a 760point spike monday its secondlargest singleday rise of the year the sp 500 rose 17 and techheavy nasdaq jumped 22 building on their respective 26 and 23 gains monday tesla shares rose 4 early tuesday after a dramatic 9 loss monday as several banks expressed optimism about the electric vehicle maker’s longterm prospects after thirdquarter vehicle deliveries fell short of analyst estimates driving this week’s gains are investors’ increasing cautious optimism about monetary policy globally the market welcomed the australian central bank’s tuesday announcement it would raise interest rates by 25 basis points as opposed to the projected 50 basis point hike and 10year us treasury yields fell a further four basis points tuesday to its lowest level in two weeks despite the recent rally thanks to hope about the federal reserve backing off its most aggressive rate hike plans no steps from the fed can save the market from the “freight train of the oncoming earnings recession” as corporate profits respond to the downturn michael j wilson morgan stanley’s chief investment officer wrote in a sunday note to clients the dow sp and nasdaq each fell about 10 in september as the market reacted to persistent inflation data pricing in more hawkish rate hikes from the fed the last three months of the year are typically a strong period for stocks with the sp rising about 5 during the quarter on average bitcoin rose 2 tuesday to 20002 its first time over 20000 in three weeks