Stocks start June flat despite energy rally, Dow adds 40 points
U.S. stocks finished Tuesday mostly flat as optimism about the economic reopening met lingering angst about inflation and price pressure.
The Dow added 45.86 points, or 0.13%, to end the day at 34,575.31 after gaining as many as 300 points shortly after the opening bell in New York.
The S&P 500 fell less than 0.1% to 4,202.04 as weakness in technology stocks offset gains made in energy, materials and financials. The S&P 500 is 0.85% below its all-time high.
The Nasdaq Composite ended the day down nearly 0.1% at 13,736.48 as Microsoft shed 0.9%, Adobe lost 1.7% and Apple slipped 0.26%.
Investors began the first week of June on a high note as Covid cases continue to decline and vaccinations rise in the U.S. In a major milestone, more than half the U.S. population has received at least one dose of a Covid vaccination, according to data posted by the Centers for Disease Control and Prevention.
The improving domestic coronavirus situation, coupled with the arrival of summertime weather, sparked another day of strong gains in Wall Street’s reopening trades like travel and hospitality.
Thai
Eng