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Stocks end another up-and-down day with mixed results

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Another wobbly day on Wall Street ended Monday with an uneven finish for the major stock indexes as losses by communication and technology companies kept gains elsewhere in the market in check.

Even the most dominant corporations have confronted the limits to their life spans. Can Meta outrun its fate?Travel-related companies also gained ground. Carnival rose 7.8%, Royal Caribbean gained 8.4% and American Airlines added 5%.

Investors are still gauging the effects of rising inflation on businesses and consumers while remaining cautious about the Federal Reserve’s plan to fight inflation. Wall Street will get another key update on inflation Thursday with the Labor Department’s report on consumer prices for January. Investors have another busy week reviewing the latest corporate report cards. Meat producer Tyson Foods rose 12.2% after reporting strong results.

Besides earnings, several companies gained ground on buyout news Monday. Spirit Airlines jumped 17.2% after Frontier Airlines’ parent company agreed to buy the carrier in a deal worth $2.9 billion.Frontier Airlines’ parent company is buying Spirit Airlines in a $2.9-billion deal to increase the airlines’ competitiveness against larger rivals.

 

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