Wall Street was split on Monday, as continued gains for technology and health care stocks helped cover up for more prevalent losses elsewhere.
The S&P 500 ended the day at a virtual standstill, up just 0.52 points at 2,930.32, despite a lot of movement going on underneath. It rallied back from an earlier loss of 0.9% in the morning.
The Dow Jones Industrial Average fell 109.33 points, or 0.4%, to 24,221.99, while the Nasdaq composite added 71.02, or 0.8%, to 9,192.34.
Through the muddled day, one of the market’s few points of clarity was that investors continue to love technology stocks.
Even with the coronavirus pandemic throwing the global economy into disarray, tech stocks in the S&P 500 have been remarkably resilient. They’re up 4.1% for 2020 as investors look for companies that can be winners in both a “normal” and a stay-at-home economy.