September 29, 2023

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US stocks claw back much of an early loss and finish mixed | National News

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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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