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Stocks end a bumpy day mostly lower, still notch August gain

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Stocks ended lower on Wall Street Monday, but the market still closed out August with its fifth monthly gain in a row.

The Standard & Poor’s 500 index fell 0.2% after spending much of the day wavering between gains and losses of less than 0.1%. The modest decline, which snapped the index’s seven-day winning streak, came as losses in financial, industrial and energy companies outweighed gains in technology stocks.

The S&P 500 fell 7.70 points to 3,500.31. The Dow Jones industrial average lost 223.82 points, or 0.8%, to 28,430.05. Investors have been largely willing to look a few months or a year into the future, when a vaccine for the new coronavirus will hopefully be available and helping the economy get back to normal. The market is also betting that corporate profits will rebound next year from their current coronavirus-caused hole.

 

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