Stocks wobbled to a mixed finish on Wall Street Monday as the market’s momentum slowed down following its best week since July as reported on ABC News.
Stocks Fluctuating
The muted trading comes ahead of a busy week of corporate earnings that could help investors find a smoother path ahead for stocks after weeks of choppiness.
Investors are also trying to figure out how the broader economy will continue its recovery with COVID-19 lingering as a threat, while businesses and consumers face rising inflation.
It rose 1.8% last week for its best week since July, though it shed 2.2% just two weeks prior.
The Dow Jones Industrial Average fell 36.15 points, or 0.1%, to 35,258.61.
Broad Gains by Direct Consumer Companies
Technology stocks and companies that rely on direct consumer spending made broad gains but were tempered by losses from health care and other companies.
Chipmaker Nvidia rose 1.6% and Target rose 3.2%.
Investors are busy reviewing the latest round of corporate earnings for a better picture of how companies fared through the surge of virus cases last quarter and how many are dealing with rising inflation’s impact on costs.
Investors will get a better sense of how airlines are recovering when several major carriers report results this week.
Leap in Airline, Television, and Automobile
United Airlines will report its latest results on Tuesday, with American Airlines and Southwest Airlines reporting their results on Thursday.
Television broadcasting company Sinclair Broadcasting fell 2.9% after reporting a data breach.
Toyota rose 1.3% after announcing plans to build a $1.29 billion factory in the U.S. to make batteries for gas-electric hybrid and fully electric vehicles.
Nearly half of the 1.3% drop was caused by the lingering effects of Hurricane Ida.
Did you subscribe to our newsletter?
It’s free! Click here to subscribe!
Source: ABC News
