Nasdaq Sets New Record

Stocks on Wall Street shook off a choppy start and closed higher Monday, extending the market's gains from last week. The initial drop followed weakness in overseas markets as the global tally of coronavirus infections approached 9 million. Technology companies led the way, outweighing losses in health care and other sectors, the AP reports. The S&P 500, which initially slid 0.6%, gained 20.12 points, or 0.6%, to 3,117.86. The Dow Jones Industrial Average, which fell 203 points in early trading, picked up 153.50 points, or 0.6%, to 26,024.96. The Nasdaq composite climbed 110.35 points, or 1.1%, to 10,056.47, a new record high for the index. The price of oil also rose, settling above $40 a barrel for the first time since early March, before the economy all but shut down due to the pandemic. (More stock market stories.)