Banks Down, Health Stocks Up in Mixed Day for Wall St.

Major indexes mostly erased early losses
By Newser Editors and Wire Services
Posted May 11, 2020 4:10 PM CDT

(Newser) – Major stock indexes erased much of their early losses, leaving the market mixed at the end of trading Monday. Companies whose fortunes are most closely linked to how well the economy is doing took the biggest losses, including banks, energy, and basic materials companies, the AP reports. The S&P 500 wound up with a gain of less than 1 point, having come back from an early loss of 0.9%. Technology companies continued their steady march higher, sending the Nasdaq up 0.8%. CNBC notes that it was the sixth day of gains for the Nasdaq, its longest winning streak of the year. Health-care stocks also rose, and came closer to erasing their losses for the year. The Dow Jones Industrial Average fell 109.33 points, or 0.4%, to 24,221.99. (Read more Dow Jones stories.)

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