Investors have been facing similar choppiness throughout September as they try to gauge how the economy will continue its recovery.
Wall street closed out a choppy week of trading Friday with a mixed finish for the major stock indexes, though the S&P 500 managed its first weekly gain in three weeks. The benchmark index rose 0.1 percent after spending much of the day wavering between small gains and losses. The Dow Jones Industrial Average also eked out a 0.1 percent gain, while the Nasdaq composite and the Russell 2000 index of small-company stocks fell. Slightly more stocks in the S&P 500 rose than fell, with communication services companies and banks driving much of the increase. Health care and real estate stocks posted some of the biggest losses. The index ended with a 0.5 percent gain for the week. The modest showing followed a two-day rally that helped erase a slump earlier in the week. Investors have been facing similar choppiness throughout September as they try to gauge how the economy will continue its recovery. “The market today was sort of catching its breath after the sharp slump in the first two days of the week and the sharp advance in the second two days of the week,” said Sam Stovall, chief investment strategist at CFRA. The S&P 500 rose 6.50 points to 4,455.48 and is now within 1.9 percent of the all-time high it set Sept.2. The Dow added 33.18 points to 34,798. The Nasdaq slipped 4.54 points, or less than 0.1 percent, to 15,047.70, while the Russell 2000 dropped 10.97 points, or 0.5 percent, to 2,248.07. Markets have had a rough September and investors could be in for more choppiness as they work through a mix of concerns, including COVID-19 and its lingering impact on the economy, along with a slow recovery for the employment market.
