Health Care, Utilities Stocks Boost Wall Street
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iStock/Thinkstock(NEW YORK) — After three weeks of losses, stocks rebounded on Monday.
The Dow Jones Industrial Average finished the session on Monday at 17,977.42, up 228.11 from its open.
The Nasdaq rose by 57.75 to close at 4,929.51. The S&P 500 also was up by 27.79 points to close at 2,081.19.
Health care and utilities stocks helped to lead the averages higher as companies rebounded after three weeks of losses. Energy stocks, however, dropped as oil slumped to a six-year low on Monday, trading below $44 a barrel.
The markets are awaiting a Federal Reserve meeting this week that may set the stage for the first U.S. interest rate hike since the financial crisis.
Shoemaker and sports gear company Adidas AG says it has decided not to renew its partnership as official outfitter of the National Basketball Association. The current agreement runs out after the 2016-2017 season.
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