US stocks edge higher, regrouping after a down week
A late-afternoon burst of buying helped stock indexes close mostly higher on Wall Street on Monday, snapping a five-day losing streak for the S&P 500.
The benchmark index shook off an afternoon slump to finish 0.2% higher. Banks, energy companies and communication stocks accounted for much of the index’s broad gains. Health care and utilities stocks fell. The S&P 500 was coming off its biggest weekly drop since June.
The S&P 500 rose 10.15 points to 4,468.73. Despite its pullback last week and modest gain Monday, the index remains just 1.5% below the alltime high it set on Sept. 2.
The Dow Jones Industrial Average rose 261.91 points, or 0.8%, to 34,869.63, while the Nasdaq slipped 9.91 points, or 0.1%, to 15,105.58. The Russell 2000 index of smaller companies rose 13.24 points, or 0.6%, to 2,240.78.