The S&P 500 edged higher Monday as Wall Street tried to recover from another weekly decline.
The Dow Jones Industrials descended 92.72 points to commence Monday trading at 34,407.94.
The much-broader index regained 14.21 points to 4,383.92.
The NASDAQ index rumbled upward 119.84 points to 13,410.62.
Major retailers are slated to report this week, including Macy’s, Nordstrom and Kohl’s. Key artificial intelligence beneficiary Nvidia and technology firm Snowflake will report after the closing bell Wednesday.
Investors are coming off a weekly decline as the market struggles through the summer doldrums. The tech-heavy NASDAQ closed the week lower about 2.6%, down for a third straight week for the first time since December. Meanwhile, the Dow closed the week lower by 2.2%, its worst streak since March. The S&P 500 dropped 2.1% and posted its third consecutive losing week, which hadn’t happened since February.
Investors digested rising bond yields and weakness out of China that put a damper on markets during a typically lackluster season.
This week, investors are anticipating an address Friday morning from Federal Reserve Chair Jerome Powell at the central bank’s annual symposium at Jackson Hole, Wyoming.
Prices for the 10-year Treasury dived, pushing yields up to 4.34% from Friday’s 4.25%. Treasury prices and yields move in opposite directions.
Oil prices acquired 50 cents to $81.75 U.S. a barrel.
Gold prices collected three dollars to $1,919.50 U.S. an ounce.