Dow Off, S&P Pushes Toward New Record

Stocks rose slightly on Monday as Wall Street tried to build on last week’s gain and the S&P 500 attempted to break its Feb. 19 record high.

The Dow Jones Industrials lost 87.22 points to begin Monday at 27,843.80.

The S&P 500 regrouped 8.19 points to 3,381.04.

The NASDAQ regained 85.03 points to 11,104.33.

Shares of Facebook, Amazon, Apple Alphabet and Microsoft all rose at least 0.5% to least the Nasdaq higher. The S&P 500 materials sector rose 1% as miners Newmont and Freeport-McMoRan each gained more than 3%. Those gains came after Barrick Gold shot up nearly 10% following Berkshire Hathaway disclosing a stake in the company.

Both Democrats and Republicans have indicated they are at a stalemate over a new stimulus package. Democrats have proposed to send more than $900 billion to states and municipalities in one bill. A counteroffer from the GOP did not include any additional aid for states and local governments.

On Friday, President Donald Trump tweeted: “I am ready to send more money to States and Local governments to save jobs for Police, Fire Fighters, First Responders, and Teachers. DEMOCRATS ARE HOLDING THIS UP!”

House Speaker Nancy Pelosi said on Sunday she would call the House back into session to address funding for the U.S. Postal Service, a key issue in the stimulus negotiations.

On the U.S.-China front, Trump issued an executive order on Friday forcing ByteDance to sell or spin off its U.S. TikTok business in 90 days. Trump cited “credible evidence” that ByteDance “might take action that threatens to impair the national security of the United States.”

Prices for the 10-Year Treasury gained slightly, lowering yields to 0.69% from Friday’s 0.71%. Treasury prices and yields move in opposite directions

Oil prices zoomed 45 cents at $42.46 U.S. a barrel.

Gold prices moved sharply higher, 32.60 points, to $1,982.40 U.S. an ounce.