Markets Post Losses Despite Rally, Positive Consumer Spending Reports
Published at | Updated at
tarabird/iStockphoto/Thinkstock(NEW YORK) — An afternoon rally on Monday, buoyed in part by positive consumer spending figures, made sure that a down day on Wall Street wasn’t even worse.
The Dow Jones Industrial Average tumbled 41.93 to a Monday close of 17,071.22.
The Nasdaq finished at 4,505.85, slipping 6.34 from its opening value, while the S&P 500 dipped 5.05 to end the day at 1,977.80.
The U.S. Commerce Department reported on Monday that consumer spending rose by 0.5 percent in August, significantly more than the disappointing increase of under 0.1 percent in July.
Follow @ABCNewsRadio
Copyright 2014 ABC News Radio