The S&P 500 and Dow Jones industrials ticked higher on Monday, propped up by hea...
- The S&P 500 and Dow Jones industrials ticked higher on Monday, propped up by healthcare stocks, but steep losses in shares of internet giants Alphabet and Amazon on fears of regulatory risks limited advances and kept the tech-heavy Nasdaq in the red.
Amazon.com dropped 3.2% after a report that the e-commerce giant could face heightened antitrust scrutiny under a new agreement between U.S. regulators. The ISM data along with trade uncertainty sent investors fleeing for safety in bonds, which pushed yields on U.S. two-year notes to their biggest two-day fall since 2008, reflecting growing conviction that the Federal Reserve will start cutting interest rates to stave off a recession.
Healthcare stocks, the worst performing sector this year, rose 0.99%, helped by positive drug data from a handful of companies including Amgen Inc and Merck & Co.
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