Dow jumps 260 points, snapping five-day losing streak
The Dow Jones Industrial Average gained Monday as the index rebounded from a five-day losing streak.
The Dow rose 261.91 points, or 0.8%, to 34,869.63.
The S&P 500 closed up 0.2% at 4,468.73.
The two major indexes both finished the day positive for the first time in the past six sessions.
The Nasdaq Composite dipped 0.1% to 15,105.58 for a fourth consecutive down day.
Covid cases reached a 7-day average through Friday of about 136,000, down from 157,000 average new cases at the end of August, according to the CDC. Pfizer’s Covid vaccine could be authorized for children by the end of next month, sources familiar told Reuters.
CNBC’s Jim Cramer warned investors Monday morning that positive stock market openings could diminish during the trading day, especially during a historically tough month like September.
“I’m concerned that we have another positive opening and people come in and buy and then they get hurt. So I really caution people to come in,” Cramer said on “Squawk Box.”
The closely watched consumer price index will be released on Tuesday, at which point the Street will see how much of the heightened costs are being passed along to consumers. Economists surveyed by FactSet are expecting the reading to show that consumer prices jumped 5.3% on an annual pace in August. Retail sales data will be released later in the week.
Reference: CNBC
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