Stocks mostly fell Monday, but a spurt in oil prices helped push the energy sector higher and the Dow Jones industrial average to another record.
The Dow rose 39.58 points, or 0.2%, to extend the record it set Friday. The Standard & Poor's 500 index, which is the benchmark for many more investors than the Dow, pulled back from its record, also set Friday, and slipped 2.57 points, or 0.1%, to 2,256.96. The Nasdaq composite fell 31.96, or 0.6%, to 5,412.54.
The Dow made the lone gain among the big three indexes thanks partly to Exxon Mobil and Chevron. Those stocks rose with oil, which touched its highest price since summer 2015 after the Organization of the Petroleum Exporting Countries persuaded Russia and 10 other oil-producing nations to announce production cuts over the weekend.
Energy stocks in the S&P 500 rose 0.7%. Six of the index’s 11 sectors posted gains.
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4 comments:
The stock market grows and falls with the people who play it , I started playing when it was less than 3,000 , as it grew I sold , as it fell I bought . simple way to gain wealth.
The market rallied for 10 days back in July after Brexit. And again in August.
When there's ripe fruit on the tree, pick it and store it. Don't let it rot on the tree. No one ever went broke taking a profit. This is "irrational exuberance " all over again. If you own stocks, set stop-losses; own funds, diversify. Someone is going to get burned. The markets just don't go up 8% every month.
I made a small fortune in the stock market.The problem was I started with a large fortune.
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