U.S. stock indexes closed mostly lower Tuesday as losses in healthcare and technology companies kept gains in energy and other sectors of the market in check.
Despite the mostly tentative day of trading, the Dow Jones industrial average inched higher, enough to set another all-time high.The S&P 500 slipped 2.24 points to 3,932.59. The Dow rose 64.35 points, or 0.2%, to 31,522.75. The Nasdaq composite index fell 47.97 points, or 0.3%, to 14,047.50. The three indexes closed at record highs Friday. U.S. markets were closed Monday for a holiday.
With Donald Trump’s second impeachment trial over, investors believe Congress can now make progress toward passing President Biden’s $1.9-trillion stimulus plan. The package would include one-time payments to Americans plus additional assistance to industries, states and jurisdictions affected by the pandemic.Vaccine distribution is improving and, separately, new case counts are decreasing.
Heating oil prices rose 2.4%, much less than natural gas, since it’s primarily used in the Northeast in older boilers to heat homes. The Northeast hasn’t seen unreasonable temperatures for this time of the year.Cruise line operators surged for the biggest gains in the S&P 500. Royal Caribbean led the way, climbing 9.7%, and Carnival jumped 9.1%.