Gains in big technology companies led stocks broadly higher on Wall Street as traders welcomed some easing in long-term bond yields.
The S&P 500 index rose 0.7% Monday while the tech-heavy Nasdaq climbed 1.2%. Amazon, Apple, and Microsoft all made solid gains.
Kansas City Southern jumped 11.1% after a Canadian railroad announced it would buy the company for $25 billion. The yield on the 10-year Treasury note fell after trading as high as 1.74% last week. A steady rise in bond yields over the past month has been luring investors away from high-flying tech stocks.
On Monday:
The S&P 500 rose 27.49 points, or 0.7%, to 3,940.59.
The Dow Jones Industrial Average rose 103.23 points, or 0.3%, to 32,371.20.
The Nasdaq rose 162.31 points, or 1.2%, to 13,377.54.
The Russell 2000 index of smaller companies fell 20.70 points, or 0.9% to 2,266.84.
For the year:
The S&P 500 is up 184.52 points, or 4.9%.
The Dow is up 2,124.72 points, or 6.9%.
The Nasdaq is up 489.26 points, or 3.8%.
The Russell 2000 is up 291.99 points, or 14.8%.
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Compare These Stocks Add These Stocks to My Watchlist 7 Entertainment Stocks That Are Still Delighting Investors
2020 has created a real-life movie script that many production companies could have only dreamed of. But that dream has been a nightmare for many of the world’s leading entertainment stocks. Movie theaters and live entertainment venues remain shut down. The words “pent-up demand” have never resonated more. Consumers are desperate for ways to be entertained.
That may make it an odd time to consider looking at entertainment stocks. But that would be a mistake. In fact, some entertainment stocks have been among the biggest pandemic winners. This is a trend that is likely to continue as the holidays arrive. The phrase “home for the holidays” is likely to have a new meaning this year. That means consumers will still be looking for ways to be entertained. And now is the time for you to prepare your portfolio for that move.
To be clear, the novel coronavirus was not due to poor management from any company. And you can bet that in the future, many companies will leave some room in their balance sheet for future “acts of God.” But in the meantime, some entertainment stocks have been pandemic winners. And that means they will likely continue to be winners as long as the pandemic lingers.
View the "7 Entertainment Stocks That Are Still Delighting Investors".
