March 4, 2024

Costaalegre Restaurant

Learn marketing business

Stocks wobble as investors seek direction amid recovery | National

2 min read

Stocks swayed between small gains and losses in afternoon trading on Wall Street Tuesday while investors continue searching for direction as the economy recovers from its pandemic slump.

The S&P 500 rose 0.1% as of 2:38 p.m. Eastern. The Dow Jones Industrial Average rose 4 points, or less than 0.1%, to 34,634 and the Nasdaq rose 0.3%. Smaller company stocks outgained the broader market for the second day in a row, driving the Russell 2000 index 0.9% higher.

A variety of companies that rely on direct consumer spending made solid gains. Domino’s Pizza rose 1.5% and Gap gained 3.2%. Industrial stocks also ticked higher. Energy companies rose along with the price of crude oil.

Those gains were kept in check by falling health care and communication stocks. Banks recovered from an earlier slide but remained weighed down as bond yields, which they rely on to charge more lucrative interest rates on loans, slipped. The yield on the 10-year Treasury fell to 1.53% from 1.57% late Monday.

The stock of Fastly, an internet cloud services provider, was 9.2% higher after the company said it had addressed an internal problem that caused dozens of websites around the globe to go down briefly, including the home page of Britain’s government and The New York Times. | Newsphere by AF themes.