Breaking News
0

Stocks - Wall Street Ends Flat; S&P Sees Resistance at 3,000

Stock MarketsSep 23, 2019 04:59PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

Investing.com – Stocks ended about flat Monday. Shares had recovered from an opening slump, but the rally hit resistance as the S&P 500 neared 3,000.

The S&P 500 finished off very slightly. The Dow Jones industrials ended ahead 0.1% and the Nasdaq Composite closed down 0.06%. The S&P 500 finished under 3,000 for a second-straight trading day after seven-straight sessions of closes above 3,000.

Consumer stocks were the bright spot, as well as Apple (NASDAQ:AAPL), which was up nearly 1% on the day and more than 5% for the month. Apple has gained as excitement over its new iPhone models has grown.

The opening slump, which pushed the Dow down as many as 104 points, appeared to be a continuation of Friday's selloff, which was generated by reports of Chinese trade delegates opting to go home rather than visit farms in Nebraska and Montana. It also reflects economic weakness in Europe, with Germany close to recession.

Athletic apparel maker Lululemon Athletica (NASDAQ:LULU) was a top stock after an upgrade. Nike (NYSE:NKE) also was higher, along with a host of retail stocks including Ulta Beauty (NASDAQ:ULTA), Walmart (NYSE:WMT), Nordstrom Inc (NYSE:JWN), Costco Wholesale (NASDAQ:COST), Target (NYSE:TGT) and Dollar Tree (NASDAQ:DLTR).

Procter & Gamble (NYSE:PG) hit a new high during the session. Staples stocks like McDonald’s (NYSE:MCD) and Colgate-Palmolive (NYSE:CL) were also higher.

Gold futures closed up $16.40 to $1,531.50 and West Texas Intermediate crude rose 55 cents to $58.64 a barrell. Brent crude for November delivery rose 49 cents to $64.77 a barrel.

Interest rates moved lower, with the 10-Year Treasury yield falling to 1.715% from Friday's 1.753%.

The major averages are still in a holding pattern, roughly 1% to 2% below their 52-week highs reached in July, frustrating bulls aching to see new highs.

But the uncertainty over U.S.-China trade negotiations is weighing on markets. Still, the S&P 500 is up 2.2% in September, with Dow up 2.1% and the Nasdaq up 1.9%.

Consumer staples, consumer discretionary and real estate stocks were among the top sectors on the day. Telecom, healthcare and communications services were among the weakest sectors.

Ulta Beauty (NASDAQ:ULTA), Advance Auto Parts (NYSE:AAP), telecommunications company CenturyLink (NYSE:CTL) and real-estate-investment-trust Equinix (NASDAQ:EQIX) were among the top S&P 500 performers on the day.

Biopharma company Incyte (NASDAQ:INCY), Take-Two Interactive Software (NASDAQ:TTWO), medical-equipment company Abiomed (NASDAQ:ABMD) and food-processing giant ConAgra Foods (NYSE:CAG) were among the weakest S&P 500 performers.

Stocks - Wall Street Ends Flat; S&P Sees Resistance at 3,000
 

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments
Greg Edwards
Greg Edwards Sep 23, 2019 8:50PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
only up 1% in the last 12 months
Tim Boyd
Tim Boyd Sep 23, 2019 8:00PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Resistance? Who authorized resistance? Start QE up already!What a joke.
Joonas Tammisalo
Joonas Tammisalo Sep 23, 2019 4:43PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Already shorting sp500.
Sebastian Os
Sebastian Os Sep 23, 2019 4:38PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Need the trump tweet
MR SSS
MrSSS Sep 23, 2019 4:16PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Waiting for WTI to drop
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email