The Dow rallied over 1 percent on Monday as economy-linked banks and energy stocks roared back after sharp declines in the previous week, while Nasdaq struggled to keep pace as Nvidia dragged down chipmakers. Blue-chip stocks such as Honeywell International, Chevron Corp., Goldman Sachs, 3M Co., and Boeing Co. gained between 1.4 percent and 3.8 percent, powering the Dow Jones Industrial Average higher. All of the 11 major S&P 500 sectors advanced, with financials, energy, and industrials jumping more than 1.5 percent each, while defensive utilities topped with a 2.3 percent gain. “If today’s strength in the blue-chips can sort of sustain itself, that might give the rest of the market the ability to start to feel confident,” said Robert Pavlik, senior portfolio manager at Dakota Wealth Management. Wall Street’s major indexes swung wildly last week as investors digested Omicron news and Federal Reserve Chair Jerome Powell’s hawkish comments about …
Dow Climbs Over 1 Percent on Cyclical Boost; Nvidia Weighs on Nasdaq
December 6, 2021
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