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Stock eke out meager gains as market stabilizes

Trader Fred DeMarco at  the NYSE  on Aug.

Trader Fred DeMarco at  the NYSE  on Aug. 16, 2017. Photo Credit: AP / Richard Drew

Stocks inched higher Monday, as the Standard & Poor’s 500 index steadied following back-to-back losses the last two weeks.

This week may be a calmer one for the stock market, after an uncharacteristically bumpy stretch shook what had been an incredibly smooth ride higher for stocks this year. Few market-moving events are on the calendar this week, and the highlight will likely arrive when central bankers from around the world gather in Wyoming as the weekend approaches.

The S&P 500 rose 2.82 points, or 0.1 percent, to 2,428.37. The Dow Jones industrial average gained 29.24, or 0.1 percent, to 21,703.75, and the Nasdaq composite slipped 3.40 points, or 0.1 percent, to 6,213.13.

The modest moves were a return to form for the market. It’s had just four days this year where the S&P 500 has dropped by more than 1 percent, which is well below the typical number in recent decades. But half those instances occurred in the last two weeks, stoked by worries about discord in Washington and the potential for war abroad.

One potential focus for the market could be the gathering in Jackson Hole, Wyoming, for central bankers, economists and policy makers. Federal Reserve Chair Janet Yellen and European Central Bank head Mario Draghi are both expected to speak at the symposium, which begins Thursday and is hosted by the Fed’s regional bank in Kansas City.

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