- The S&P 500 and the Nasdaq fell on Monday as investors rotated out of heavyweight technology stocks and moved into lagging growth-linked sectors while awaiting word on progress in the fiscal support bill to support the country’s battered economy.
The blue-chip Dow index touched a more than five-month high, boosted by industrial and financials stocks. Planemaker Boeing was the biggest gainer on the index, adding about 4.2%. U.S. Treasury Secretary Steven Mnuchin, in an interview to CNBC on Monday, said the Trump administration and Congress could reach an agreement as soon as this week if Democrats are “reasonable.”
The rich get richer on the backs of the poor
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