Stocks end wobbly day mostly lower in losses

Natural gas prices surge

Stock indexes closed mostly lower as losses in health care and technology companies kept gains in check.

U.S. stock indexes closed mostly lower Tuesday as losses in health care and technology companies kept gains in energy and other sectors of the market in check.

The S&P 500 ended down less than 0.1% after giving up a modest early gain.

Energy companies that stand to benefit from record electricity prices due to the frigid cold impacting much of the country surged. Marathon Oil and Apache Corp. were among the biggest gainers.

Bond yields, which have been ticking higher on expectations of rising inflation, rose sharply. The yield on the 10-year Treasury rose to 1.29%, the highest level in a year. Bank stocks made broad gains on the higher yields, which allow them to charge more lucrative interest rates on loans. Utilities and real estate stocks, bond proxies that can look less attractive when bond yields rise, were among the biggest decliners.

Despite the mostly tentative day of trading, the Dow Jones Industrial Average inched higher, enough to set another all-time high.

“You have a continuation of some of the trends that we’ve had recently and the kind of bifurcation within the market where the things that are benefiting from higher yields are continuing to do well, and that speaks to an improving economy and more inflation,” said Willie Delwiche, investment strategist at All Star Charts.

The S&P 500 slipped 2.24 points to 3,932.59. The Dow rose 64.35 points, or 0.2%, to 31,522.75. The Nasdaq Composite index fell 47.97 points, or 0.3%, to 14,047.50. The three indexes closed at record highs on Friday. U.S. markets were closed Monday for a holiday.

Stocks of smaller companies fared worse than the broader market. The Russell 2000 index lost 16.47 points, or 0.7%, to 2,272.89.

Optimism that Washington will come through on trillions of dollars of more aid for the economy and encouraging company earnings reports have helped stocks grind higher this month, along with hopes that the coronavirus vaccine rollout will set the stage for stronger economic growth in the second half of this year.

With the second impeachment trial over, investors believe Congress can now make progress toward passing President Biden’s $1.9 trillion stimulus plan. The package would include one-time payments to Americans plus additional assistance to industries, states and jurisdictions impacted by the pandemic.

Vaccine distribution is improving and, separately, new case counts are decreasing. That’s injecting more confidence into the prospects for a recovery while a new round of stimulus could help give people and businesses more money and improve consumer spending.

That long view of the economy, which has been bolstered by mostly upbeat economic data and corporate earnings, has been helping push bond yields higher, said Jason Pride, chief investment officer of private wealth at Glenmede.

“It’s reflecting that optimism,” he said. “Every ounce of information we get seems to confirm these story lines.”

Energy prices rose sharply Tuesday as record demand for heating across much of the frigid Midwest and Texas pushed electricity prices higher. The price of natural gas, which is the country’s primary way to produce quick “on-demand” electricity when needed, rose 7.5% to its highest level since November, when hurricane season impacted some natural gas production along the Gulf Coast.

DEAR AMY » My parents are in their late-50s. They live in their own home nearby. Their marriage has been rocky for many years. They seem to stay together mostly for financial reasons.

My husband and I have been very strict about contact since the pandemic started, especially because we had a new baby, born last year.

My mom helps out by providing childcare so that I can keep working.

She wants to be extra careful for the sake of our household, as well as her own.

The big problem is that my father thinks COVID is a joke. He won’t socialdistance or wear masks unless he is forced to.

He’s acting childish and shows no concern for those around him, especially our young baby.

We stay away from him and won’t visit their house, but I’m still incredibly worried for my mom’s health!

She wears a mask whenever she’s with me or the baby, and sometimes even in her own home.

I feel so helpless. I’ve begged her to come stay with us, but she doesn’t want to let him feel like he “won” the house.

I honestly don’t even care if my father gets sick at this point, but I’m very worried about what his behavior could do to my mom.

What can I do to deal with my father?

— Very Concerned Daughter

DEAR DAUGHTER » You cannot control your father. If he doesn’t believe the CDC or pay attention to the various spikes and real risks of this virus, he’s not going to listen to you. Your only leverage is access to your baby, and he doesn’t seem interested in seeing the child.

If your mother is extremely concerned about her (and your) health, and yet won’t live with you because she doesn’t want your dad to “win the house,” then I’d say that her health concerns aren’t actually paramount.

If she is worried about her legal rights to the marital property if she left the home for an extended period, it would be wisest for her to consult with a lawyer.

The good news is that because of their broken relationship, your parents very likely keep their distance from each other while in their home. Your mother is observing safe COVID practice while she is with you. All of you should continue to guard your own health.

If you truly believe that your mother is placing her own health (and yours) at enhanced risk by living with your father, you should not ask her to come into your home until she can receive a vaccine.

Your family is exemplifying the challenges and compromises that most families have been facing. Worrying does not help. Mitigating your risks does.

DEAR AMY » I have a woman friend whose lease is up at the end of the month. She asked about moving in with me. I’m retired, never married, and we have gone out about three times as friends, but I can see spending the rest of my life with her (she is 20 years younger).

The house I own is small and I have a male housemate, also retired, living in one of the bedrooms. The other bedroom is for his homebased business.

There isn’t any place for her to sleep, except in my bed.

I don’t know much about her. She has an exboyfriend who seems to bother her, which is one reason she wants to move. She is also filing for divorce from her husband in another country.

She works two jobs and keeps strange hours.

We haven’t been intimate yet, but we both want to be.

My life would really change if she lived here.

I don’t know if just being friends and sleeping in the same bed without being intimate will work, while we are still getting to know each other. Your thoughts? — Wondering

DEAR WONDERING: ON THE

ONE HAND » Nope. No, no, no.

On the other hand, maybe the pandemic has prevented you from attending live theater. Allowing this stranger into your home (and your bed) would be your guaranteed ticket to nonstop drama.

If you do decide to let her live in your home, please research the laws in your state regarding eviction beforehand.

DEAR AMY » I agree with your response to “Upset” who got jealous when her husband Googled attractive personalities he saw on television.

Might I add what my father-in-law used to say about it: “It doesn’t matter where you get your appetite, as long as you come home for dinner.”

— Wise Guy

DEAR WISE GUY » I like it!