Wall Street closed mixed, holding a bit firmer following its three-week losing streak.
The S&P 500 rose 0.7% Monday as gains for Tesla, Microsoft and other Big Tech stocks lifted the index. That’s even though the majority of stocks fell. The Dow fell 36 points, and the Nasdaq composite rose 1.6%.
In the bond market, the 10-year Treasury yield touched its highest level since 2007. The week’s main event is likely to be a Friday speech by Federal Reserve Chair Jerome Powell. The Jackson Hole, Wyoming setting has been the site of major policy announcements in the past by the Fed.
On Monday:
The S&P 500 rose 30.06 points, or 0.7%, to 4,399.77.
The Dow Jones Industrial Average fell 36.97 points, or 0.1%, to 34,463.69.
The Nasdaq composite rose 206.81 points, or 1.6%, to 13,497.59.
The Russell 2000 index of smaller companies fell 3.41 points, or 0.2%, to 1,856.01.
For the year:
The S&P 500 is up 560.27 points, or 14.6%.
The Dow is up 1,316.44 points, or 4%.
The Nasdaq is up 3,031.11 points, or 29%.
The Russell 2000 is up 94.77 points, or 5.4%.
