Stocks recovered from early losses and ended higher on Wall Street.
Investors remain focused on the economy and upcoming reports from retailers this week. The S&P 500 rose 0.4 percent Monday after stumbling in early trading. The Dow Jones Industrial Average and Nasdaq also extended last week’s gains.
Oil prices dropped sharply on worries about the global economy. China’s central bank cut a key interest rate after acknowledging more needs to be done to shore up the world’s second largest economy. Treasury yields also fell, as manufacturing in New York state unexpectedly shrank.
On Monday (Aug. 15):
- The S&P 500 rose 16.99 points, or 0.4 percent, to 4,297.14.
- The Dow Jones Industrial Average rose 151.39 points, or 0.4 percent, to 33,912.44.
- The Nasdaq rose 80.87 points, or 0.6 percent, to 13,128.05.
- The Russell 2000 index of smaller companies rose 4.73 points, or 0.2 percent, to 2,021.35.
For the year:
- The S&P 500 is down 469.04 points, or 9.8 percent.
- The Dow is down 2,425.86 points, or 6.7 percent.
- The Nasdaq is down 2,516.92 points, or 16.1 percent.
- The Russell 2000 is down 223.97 points, or 10 percent.
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