The New York Stock Exchange (NYSE) stands in lower Manhattan on May 18, 2020 in New York City. Markets surged today as promising details of a potential COVID-19 vaccine were released and more European countries gradually re-opened after months of lockdown.
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Dow Jones Industrial Average falls 86 points, but S&P rises
Short of a record once again
The S&P 500 made another run at its Feb. 19 record on Monday, but fell short once more. “The S&P 500 is overbought into key resistance and up against seasonal headwinds,” said one analyst. should the market “consolidate from here, we’ll be monitoring for an accumulation of cyclical equities to confirm what we expect to be a breakout to a new high.” These struggles come amid a stalemate among lawmakers over a new coronavirus stimulus package.
Barrick Gold jumps and tech leads
What happens next?
Home Depot and Walmart are among the companies set to report earnings on Tuesday.
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Wall Street kicked off the week with a muted performance as the S&P 500 struggled once again to reach its February record.