Investing.com – Stocks ended about flat Monday. Shares had recovered from an opening slump, but the rally hit resistance as the S&P 500 neared 3,000.
The finished off very slightly. The ended ahead 0.1% and the closed down 0.06%. The S&P 500 finished under 3,000 for a second-straight trading day after seven straight days of closes above 3,000.
Consumer stocks were the bright spot, as well as Apple (NASDAQ:), which was up nearly 1% on the day and more than 5% for the month. Apple has gained as excitement over its new iPhone models has grown.
The opening slump, which pushed the down as many as 104 points, appeared to be a continuation of Friday’s selloff, which was generated by reports of Chinese trade delegates opting to go home rather than visit farms in Nebraska and Montana.
Athletic apparel maker Lululemon Athletica (NASDAQ:) was a top stock after an upgrade. Nike (NYSE:) also was higher. Procter & Gamble (NYSE:) hit a new high.
and were higher. Interest rates moved lower, with the yield falling to 1.715% from Friday’s 1.753%.
The major averages are still in a holding pattern, roughly 1% to 2% below their 52-week highs reached in July, frustrating bulls aching to see new highs.
But the uncertainty over U.S.-China trade negotiations is weighing on markets. Still, the is up 2.2% in September, with up 2.1% and the Nasdaq up 1.9%.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.