Back-to-back gains for stocks | Inflation domination on earnings calls | Fallen stocks that are worth a buy

The three major indexes posted a second day of gains as investors look to tech earnings.

VIEW IN BROWSER | SUBSCRIBE MON, OCT 24, 2022 EVENING BRIEF AS OF MON, OCT 24, 2022 • 05:15 ET DJIA 31499.62 +1.34% +417.06 S&P 500 3797.34 +1.19% +44.59 NASDAQ 10952.61 +0.86% +92.90 Most Active DOW NAME LAST CHG %CHG AAPL 149.45 +2.18 +1.48% INTC 27.18 +0.21 +0.78% VZ 35.97 +0.62 +1.75% S&P 500 NAME LAST CHG %CHG TSLA 211.25 -3.19 -1.49% AMD 58.70 -0.12 -0.20% AAPL 149.45 +2.18 +1.48% NASDAQ NAME LAST CHG %CHG TSLA 211.25 -3.19 -1.49% AMD 58.70 -0.12 -0.20% AAPL 149.45 +2.18 +1.48% EDITOR'S NOTE Stocks rose on Monday for a second positive session, starting the new week with some momentum from Friday's rally.   The Nasdaq Composite turned green after a downward start to the day. The tech-heavy index was weighed down early by a downgrade to neutral from buy for Meta from Bank of America that was based on concerns over how changing ad spending could hurt the company.   Many Chinese-based tech companies listed in the U.S., which includes Alibaba, Baidu and JD.com, slumped after a shakeup to Beijing politics heightened concerns over the fate of companies conducting business there. The iShares China Large-Cap ETF (FXI) ended the day down about 10%. But the Nasdaq turned positive as investors saw opportunities to buy low as tech companies are expected to struggle this earnings season, said Edward Moya, senior market analyst at OANDA.   He said the news out of China only added to jitteriness of some investors looking at U.S. tech companies set to report this week, including Apple and Amazon. But others see this week as the right time to get in on a big-name tech stock at a discount, he said.   The outlook going forward could be a gloomy one for investors, but there may be a silver lining: The Federal Reserve could slow its parade of rate hikes, according to Moya.   "That's also providing some optimism here that the Fed is going to be done after a couple more rate hikes, and that's really the driving force behind a lot of people buying right now," he said.   While some see an opportunity in a bear market, Moya said investors should be careful when deciding if now is the time to buy into these tech stocks given the amount of people using short-term investing strategies amid choppy markets.   "This little soft patch for the economy is really going to be short lived," he said. "There should be a lot of caution into buying into this rally." Alex Harring | CNBC Markets Reporter @alex_harring Watch our live stream for all you need to know to invest smarter. TOP NEWS  Stocks notch second day of gains Monday, Dow closes more than 400 points higher Rishi Sunak to be Britain's new prime minister as rivals quit race Chinese intelligence officers charged with obstructing Huawei prosecution as DOJ reveals 2 more cases of China interference Inflation is dominating the conversation on earnings calls. Here's what execs are saying 10 'babies in the bathwater' to buy from Evercore ISI, down 40% from pandemic highs Meta shareholder writes critical open letter saying company needs to slash headcount and stop spending so much money on 'metaverse' JPMorgan president says a recession may be price to pay to beat inflation, market bottom not in yet Supreme Court Justice Clarence Thomas temporarily blocks Sen. Graham's subpoena from Georgia grand jury U.S. denounces Russia's 'dirty bomb' claim; more than a million Ukrainian homes have lost power Republican gains in key states signal bad news for Democrats ahead of midterms, new polls show TOP VIDEO Meta needs to focus on its core business, not the Metaverse, says Sand Hill's Brenda Vingiello CNBC PRO Here's why Fundstrat's Tom Lee says this market rally has room to run SPECIAL REPORTS There's still time for big savers to use 'after-tax contributions' to funnel more into 401(k) plans for 2022 Biden's student loan forgiveness plan is on hold. Here are key issues borrowers need to know 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