Market Sends Mixed Messages

Dow dips, while S&P and tech-heavy Nasdaq notch small gains
By Newser Editors,  Newser Staff
Posted Jun 18, 2020 3:05 PM CDT
Market Sends Mixed Messages
Meric Greenbaum, with IMC, is seen behind one of the newly installed plastic barriers at trading posts on the floor of the New York Stock Exchange Thursday, June 18, 2020.   (AP Photo)

The Dow lost some ground again Thursday, while the benchmark S&P 500 remained essentially flat and the tech-heavy Nasdaq gained for the fifth consecutive day, reports CNBC. All in all, the market "struggled for direction," according to the network, as investors kept an eye on coronavirus resurgences around the world and not-so-great unemployment data in the US. For the day, the Dow fell 39 points to 26,080, the S&P rose a single point to 3,115, and the Nasdaq gained 32 points to close at 9,943.

“The question and the challenge for those of us who are watching the virus is what will it do to corporate earnings and will localized shutdowns make the economic recovery even slower than it already is?” Rob Haworth, senior investment strategist at US Bank Wealth Management, tells the AP. "We’ve had a good snap back, but it still leaves us short of where we were before.” (More stock market stories.)

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