Wall Street drifted higher ahead of reports that will show how much a slowing economy is hurting what’s prevented a recession so far: solid spending by U.S. households.
The S&P 500 rose 0.3% Monday. The Dow edged higher, while the Nasdaq rose 0.7%.
Some of the sharper moves came from companies announcing takeovers of rivals, but the larger market remained listless as several worries hang over Wall Street. They include fears about a possible recession and a countdown to a possible default by the U.S. government. The latest discouraging report on manufacturing showed a plunge in New York state.
On Monday:
The S&P 500 rose 12.20 points, or 0.3%, to 4,136.28.
The Dow Jones Industrial Average rose 47.98 points, or 0.1%, to 33,348.60.
The Nasdaq composite fell 80.47 points, or 0.7% to 12,365.21.
The Russell 2000 index of smaller companies fell 20.70 points, or 1.2%, to 1,761.55.
For the year:
The S&P 500 is up 296.78 points, or 7.7%.
The Dow is up 201.35 points, or 0.6%.
The Nasdaq is up 1,898.73 points, or 18.1%.
The Russell 2000 is up 0.30 points, or less than 0.1%.
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