S&P Rises Slightly To Overcome Recent Slump
Date
9/25/2023 3:22:42 PM
(MENAFN- Baystreet.ca) S&P Rises Slightly to Overcome Recent Slump
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The S&P 500 edged slightly higher Monday as the 10-year Treasury rose to kick off the final week in a September that has seen big losses so far.
The Dow Jones Industrials climbed to within 7.17 points of breakeven mid-Monday to 33,956.67.
The S&P 500 grabbed 11.14 points to 4,331.20.
The nasdaq index gained 43.87 points to 13,255.68.
Chemical giant Dow was the best-performing member of the 30-stock index, last rising 1.5% after an upgrade from JPMorgan. Energy was the biggest gainer in the S&P 500, up by 1%.
Elsewhere, Amazon shares climbed more than 1% after the online retail giant said Monday it will invest up to $4 billion in artificial intelligence firm Anthropic. Apple was up by nearly 1%. Shares of Nvidia advanced more than 1%.
The S&P 500 has fallen more than 4% in September, on pace for its second straight losing month and its worst month since December. The tech-heavy NASDAQ Composite is down 6% in September as growth stocks bore the brunt of the selloff, also headed for its biggest monthly loss since December. The blue-chip Dow is off by a more modest 2% this month.
Prices for the 10-year Treasury staggered, raising yields to 4.53% from Friday's 4.43%. Treasury prices and yields move in opposite directions.
Oil prices dipped 54 cents to $89.49 U.S. a barrel.
Gold prices removed $8.40 to $1,937.20 U.S. an ounce.
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