A currency trader talks on the phone at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, June 7, 2021. Asian shares were mixed Monday, as initial euphoria about the gains that closed out last week on Wall Street faded quickly.
A currency trader passes by screens showing foreign exchange rates at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, June 7, 2021. Asian shares were mixed Monday, as initial euphoria about the gains that closed out last week on Wall Street faded quickly.
A currency trader passes by screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won, center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, June 7, 2021. Asian shares were mixed Monday, as initial euphoria about the gains that closed out last week on Wall Street faded quickly.
The Federal Hall statue of George Washington overlooks the New York Stock Exchange, Monday, June 7, 2021. Stocks are nudging mostly higher in early trading, putting the S&P 500 and the Dow Jones Industrial Average back near the record highs they reached a month ago.
NYSE President Stacey Cunningham takes a selfie with a big screen and the opening bell outside the New York Stock Exchange, Monday, June 7, 2021. Stocks are nudging mostly higher in early trading, putting the S&P 500 and the Dow Jones Industrial Average back near the record highs they reached a month ago.
A woman and her trainer workout outside the New York Stock Exchange, Monday, June 7, 2021. Stocks are nudging mostly higher in early trading, putting the S&P 500 and the Dow Jones Industrial Average back near the record highs they reached a month ago.
Stocks clawed back much of their early losses and ended mixed on Wall Street Monday. The S&P 500 slipped less than 0.1% and the Nasdaq rose 0.5%. The subdued opening to the week follows several choppy weeks as investors continue to gauge the economy’s recovery and the risks of rising inflation. On Thursday investors will get more information on how much consumer prices rose last month. Technology stocks, banks and industrial companies pulled the broader market lower. Health care companies made solid gains, as did cruise line operators. The yield on the 10-year Treasury edged up to 1.57%.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
Stocks edged lower in afternoon trading Monday after briefly approaching the record highs they reached a month ago.
The quiet opening to the week follows several choppy weeks as investors continue to gauge the economy’s recovery and the risks rising inflation. Wall Street faces a relatively light week of economic data, though investors will get more information on how much consumer prices rose last month.
The S&P 500 slipped 0.1% as of 3:27 p.m. Eastern. The Dow Jones Industrial Average fell 131 points, or 0.4%, to 34,624 and the Nasdaq rose 0.5%. Small-company stocks far outpaced the rest of the market. The Russell 2000 index rose 1.4%
“The market is treading water right now and waiting for another catalyst to move higher,” said Sam Stovall, chief investment strategist at CFRA.
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