Stocks struggled to find direction as traders took profits in some names that bounced higher last week with growth fare. Technology names got pinched today, but Monday’s performances by the broader benchmarks were not too bad, nor where they impressive.
Monday was a lethargic day, reminiscent of many during the summer months, but the S&P 500 entered the day just 1.80% below its all-time high and growth sectors, such as consumer discretionary and technology, were about 2% removed from records, so it wasn’t surprising to see modest dips today.
When all was said and done, the Nasdaq Composite was lower by 0.19% while the S&P 500 settled down by just 0.01%. The Dow Jones Industrial Average was the standout of the day, gaining 0.14%. In late trading, 17, or just over half the Dow’s 30 members, were trading higher.