Stocks close mixed after posting their sixth monthly gain

Stocks close mixed after posting their sixth monthly gain

8/3/2021 7:48:00 AM

Stocks close mixed after posting their sixth monthly gain

Stocks closed mixed on Wall Street on Monday as enthusiasm over corporate earnings clashed with concern over the Delta variant of the coronavirus.

PrintStocks were mixed on Wall Street in choppy trading Monday as investors balanced unease about the spread of a more contagious coronavirus variant against another round of encouraging company earnings data.The Standard & Poor’s 500 index finished the day at 4,387.16, down 0.2%. The benchmark index is coming off a weekly loss, though it ended July higher, its sixth straight month of gains.

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The Dow Jones industrial average was down 97.31 points, or 0.3%, to 34,838.16, and the Nasdaq composite rose 0.1% to 14,681.07.Technology, industrial and communication companies weighed on the market. Gains by healthcare stocks, banks and a variety of retailers and other companies that rely on direct consumer spending helped keep the losses in check.

AdvertisementThis week will be busy for investors. Roughly 150 members of the S&P 500 will report their results, and the July jobs report comes out Friday.Companies that will report this week include DuPont, Eli Lilly, CVS, Kraft Heinz, General Motors and Humana, among many others.

This earnings season has been strong for corporate America, with the average S&P 500 company reporting 85.1% growth in profit from last year. Roughly 9 out of 10 companies have beaten expectations on both profit and revenue. The index is on pace to have its strongest earnings season since 2009.

Read more: Los Angeles Times »

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