NEW YORK — Stocks ended mixed on Wall Street following the latest signal showing the U.S. economy is slowing. The S&P 500 edged up 0.1% Monday after erasing a midday slump. The benchmark index is coming off its sixth winning month in the last seven. The Dow Jones Industrial Average lost 0.3%, and the Nasdaq composite rose 0.6%. Several tech stocks including Nvidia ended higher, but stocks of oil-and-gas producers fell after the price of crude tumbled.
Stocks of oil-and-gas producers were leading the market lower after the price of crude tumbled. A slowing economy would mean less growth in demand for fuel, and the price for a barrel of U.S. crude dropped 3.6%. Brent crude, the international standard, also fell 3.4% despite moves over the weekend by Saudi Arabia and other oil-producing countries meant to prop up its price.
GameStop soared 33.8% in a move reminiscent of its early 2021 rocket ride that shook Wall Street and brought the term “meme stock” into the parlance of our times. GameStop jumped after a Reddit account associated with a central character in the 2021 episode said it had built a stake of 5 million shares, along with options to buy more. The post from Sunday night said the position was worth $181.4 million.
Hertz Global sank 4.5% after it said its chief operating officer is leaving and named a new chief financial officer.
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