Stocks jump in late-day rally | United Airlines will trim Newark flights | Markets’ rocky first half: What’s next?

Stocks rose in an afternoon rally, but recession concerns remained top of mind.

VIEW IN BROWSER | SUBSCRIBE THU, JUN 23, 2022 EVENING BRIEF AS OF THU, JUN 23, 2022 • 05:09 ET DJIA 30677.36 +0.64% +194.23 S&P 500 3795.73 +0.95% +35.84 NASDAQ 11232.19 +1.62% +179.11 Most Active DOW NAME LAST CHG %CHG AAPL 138.27 +2.92 +2.16% CSCO 42.93 -0.64 -1.47% INTC 37.41 +0.03 +0.08% S&P 500 NAME LAST CHG %CHG AMD 82.43 -1.32 -1.58% AAPL 138.27 +2.92 +2.16% AMZN 112.44 +3.49 +3.20% NASDAQ NAME LAST CHG %CHG AMD 82.43 -1.32 -1.58% AAPL 138.27 +2.92 +2.16% AMZN 112.44 +3.49 +3.20% EDITOR'S NOTE Stocks climbed Thursday, but Wall Street maintained a cautious state of mind as recession concerns loomed, and bond yields slid to their lowest levels in about two weeks.   The Nasdaq Composite outpaced the other major averages, adding 1.6% as lower bond yields gave the tech-heavy index a boost.   Meanwhile, more defensive stocks such as consumer staples, utilities, real estate and health-care stocks drove the S&P 500. Consumer staples names such as Clorox were among notable gainers in the broader market index.   "The market action that we've seen today and yesterday at least on the internals suggests that the market is becoming increasingly concerned with the global economic growth," said Scott Ladner, chief investment officer at Horizon Investments.   Meanwhile, the Federal Reserve Chair Jerome Powell on Thursday reiterated that the central bank is "strongly committed" to bringing down inflation, as he capped a second day speaking on monetary policy before Congress.    More investment banks this week raised their bets on the likelihood of a recession, with UBS increasing its odds of a downturn to 69%.      But at least one top strategist at JPMorgan doesn't agree with those calls. Marko Kolanovic said the economy will sidestep a recession, and the stock market will make back its losses in the second half of the year.   The strategist believes a "diplomatic solution" to geopolitical tensions in Europe during the latter part of the year would alleviate inflationary pressures.  Sarah Min | Investing Reporter at CNBC Pro @_sarahmin Watch our live stream for all you need to know to invest smarter. TOP NEWS  Nasdaq rises 1%, Dow adds nearly 200 points in late-day rally Supreme Court strikes down New York gun law restricting concealed carry in major Second Amendment case United Airlines will cut 12% of Newark flights in effort to tame delays This first half ranks among the market's worst on record. Here's what typically happens next Intel warns Ohio factory could be delayed because Congress is dragging its feet on funding Warren Buffett buys another $500 million of Occidental Petroleum, beefing up energy bet FDA bans Juul e-cigarettes as U.S. pursues broader crackdown on nicotine products JPMorgan midyear outlook shocker sees S&P 500 roundtrip to new record Netflix lays off 300 more employees as revenue growth slows Jan. 6 hearing to spotlight Trump's pressure on DOJ and plan to replace attorney general TOP VIDEO Multiple air carriers trim services after thousands of cancellations during the holiday weekend CNBC PRO Investors can learn a lot about inflation and the consumer from Olive Garden operator's conference call SPECIAL REPORTS Here's how I shaved five years off my mortgage and saved thousands with one simple strategy With or without a federal gas tax holiday, here are 4 ways to save money at the pump Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS