U.S. stocks closed mostly higher Monday
U.S. stocks closed mostly higher Monday, with the S&P 500 and the Nasdaq each snapping a four-day losing streak on the back of a recovery in technology shares.
The day’s gains were fairly broad-based, with eight of the 11 primary S&P 500 industry groups finishing in positive territory led by utilities and real estate, while the Dow Jones Transportation Average rallied to a record.
How did the main benchmarks fare?
The S&P 500 SPX, +0.19% rose 5.45 points, or 0.2%, to finish at 2,877.13 and the Nasdaq Composite Index COMP, +0.27% gained 21.62 points, or 0.3%, to 7,924.16. The Dow Jones Industrial Average DJIA, -0.23% fell 59.47 points, or 0.2%, to 25,857.07 but the Dow transports DJT, +1.82% climbed 1.8% to 11,554.08.
Both the S&P and the Nasdaq are coming off four straight daily declines. Last week was the S&P’s first negative week of the past four, and it represented the biggest weekly percentage drop since June. The Nasdaq suffered its biggest weekly drop since March.
What drove the market?
Recent market activity has been driven in part by uncertainty surrounding trade between the U.S. and its major trading partners. President Donald Trump recently threatened China with the latest in a series of tariffs, which would impact an additional $267 billion in Chinese goods. This comes on top of an already-proposed $200 billion in tariffs.