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The S&P 500 rose on Monday as the benchmark tries to continue its comeback from correction territory following a four-week rout on Wall Street exacerbated by President Donald Trump’s chaotic tariff policy rollout and falling consumer confidence.
The Dow Jones Industrials charged 208.36 points to break for lunch at 41,689.19, bolstered by gains in Walmart and International Business Machines
The much-broader index gained 8.57 points to 5,647.51.
The NASDAQ let go of gains by noon hour and slid 69.07 points to 17,685.02.
Helping sentiment was the February retail sales report, as traders breathed a sigh of relief that the figures weren’t worse. Retail sales increased 0.2% on the month, below the Dow Jones estimate for a 0.6% increase, according to the advanced reading Monday from the Commerce Department. But excluding autos, the increase was 0.3%, which was in line with economists’ expectations.
The S&P 500 closed in a correction on Thursday, down more than 10% from its record high in late February. It then soared 2% on Friday as investors snapped up beaten-up technology shares. Investors were continuing some of that tech buying on Monday with Nvidia and Palantir higher.
Prices for the 10-year Treasury eked higher Monday, lowering yields to 4.27% from Friday’s 4.32%. Treasury prices and yields move in opposite directions.
Oil prices added 21 cents to $67.39 U.S. a barrel.
Prices for gold regained $2.20 an ounce to $3,003.30 U.S.
