The S&P 500 rose slightly on Monday as the index tried to build on last week’s gain and attempted to break its February record high. Here's how the major averages performed: - The Dow fell 85 points. - The S&P 500 rose .27%. - The Nasdaq gained 1%.
Shares of Alphabet and Microsoft both rose at least 0.7% to lead the Nasdaq higher. Amazon, meanwhile, gained 1.1% after Reuters reported — citing sources — the e-commerce giant wants a minority stake in cloud company Rackspace Technology.. Shares of Rackspace advanced more than 10% on the news.
This struggle to climb back into record territory comes as trading volumes have fallen off significantly. On Monday, the SPDR S&P 500 ETF Trust traded just over 31 million shares. That's well below a 30-day volume average of 61.98 million. Both Democrats and Republicans have indicated they are at a stalemate over a new stimulus package. Democrats havein one bill. A counteroffer from the GOP did not include any additional aid for states and local governments.
House Speaker Nancy Pelosi, D-Calif., said on Sunday she would call the House back into session to address funding for the U.S. Postal Service.
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