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U.S. stocks ended mostly higher, with the Dow and the S&P 500 rebounding from their five-day losing streak as investors shifted focus to upcoming economic data and the potential tax hikes to be made. However, the Nasdaq ended in negative territory.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) gained 0.8% or 261.91 points to end at 34,869.63 points. The blue-chip index recorded its best daily gain in almost five weeks
The S&P 500 rose 0.2% or 10.15 points to finish at 4,492.99 points. The index had at one point of the day reached 4,492.99 points. The rally was driven by energy and financial stocks.
The Energy Select Sector SPDR (XLE) jumped 2.9%, while the Financials Select Sector SPDR (XLK) gained 1.4%. Eight of the 11 sectors of the benchmark index closed in positive territory.
The tech-heavy Nasdaq fell 0.1% or 9.91 points to close at 15,105.58 points, recording its fourth consecutive session of losses.
The fear-gauge CBOE Volatility Index (VIX) was down 7.54% to 19.37. A total of 10.30 billion shares were traded on Monday, higher than the last 20-session average of 9.29 billion. Advancers outnumbered advancers on the NYSE by a 1.60-to-1 ratio. On Nasdaq, a 1.02-to-1 ratio favored advancing issues.
Markets Make a Subtle Comeback
The Dow and the S&P 500 finally ended in positive territory on Monday, after registering losses for five consecutive sessions last week, while the Nasdaq extended its losses to four straight sessions. However, Monday’s rebound was somewhat subdued as massive selloff in growth and healthcare stocks weighed on equities.
Value stocks gained as investors got back some confidence as they showed faith in the resurging economy as the seven-day average COVID-19 cases somewhat fell. New seven-day average COVID-19 cases through Friday touched 136,000, down from the 157,000 average new cases at August end, according to the CDC.
However, investors were still jittery as they shifted focus toward upcoming economic data in the latter half of the week. The S&P 500 started the session on a high, rallying as much as 0.8% shortly after opening but could hold on to its intra-day high.
The Dow also surged as much as 300 points earlier in the day but at one point gave up most of the gains before bouncing back once again to end the day in positive territory.
Investors are now waiting for some major economic data to be released this week, which starts with Tuesday’s consumer price data.
No economic data was released on Monday.
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Stock Market News for Sep 14, 2021
U.S. stocks ended mostly higher, with the Dow and the S&P 500 rebounding from their five-day losing streak as investors shifted focus to upcoming economic data and the potential tax hikes to be made. However, the Nasdaq ended in negative territory.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) gained 0.8% or 261.91 points to end at 34,869.63 points. The blue-chip index recorded its best daily gain in almost five weeks
The S&P 500 rose 0.2% or 10.15 points to finish at 4,492.99 points. The index had at one point of the day reached 4,492.99 points. The rally was driven by energy and financial stocks.
The Energy Select Sector SPDR (XLE) jumped 2.9%, while the Financials Select Sector SPDR (XLK) gained 1.4%. Eight of the 11 sectors of the benchmark index closed in positive territory.
Shares of APA Corporation (APA - Free Report) jumped 7.8%, while Marathon Oil Corporation (MRO - Free Report) gained 7.2%. APA Corporation carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The tech-heavy Nasdaq fell 0.1% or 9.91 points to close at 15,105.58 points, recording its fourth consecutive session of losses.
The fear-gauge CBOE Volatility Index (VIX) was down 7.54% to 19.37. A total of 10.30 billion shares were traded on Monday, higher than the last 20-session average of 9.29 billion. Advancers outnumbered advancers on the NYSE by a 1.60-to-1 ratio. On Nasdaq, a 1.02-to-1 ratio favored advancing issues.
Markets Make a Subtle Comeback
The Dow and the S&P 500 finally ended in positive territory on Monday, after registering losses for five consecutive sessions last week, while the Nasdaq extended its losses to four straight sessions. However, Monday’s rebound was somewhat subdued as massive selloff in growth and healthcare stocks weighed on equities.
Value stocks gained as investors got back some confidence as they showed faith in the resurging economy as the seven-day average COVID-19 cases somewhat fell. New seven-day average COVID-19 cases through Friday touched 136,000, down from the 157,000 average new cases at August end, according to the CDC.
However, investors were still jittery as they shifted focus toward upcoming economic data in the latter half of the week. The S&P 500 started the session on a high, rallying as much as 0.8% shortly after opening but could hold on to its intra-day high.
The Dow also surged as much as 300 points earlier in the day but at one point gave up most of the gains before bouncing back once again to end the day in positive territory.
Investors are now waiting for some major economic data to be released this week, which starts with Tuesday’s consumer price data.
No economic data was released on Monday.