Stocks inch higher, shaking off 4 weeks of losses
The Dow closed up 37 points, giving up 200 points of gains made in early trading. The S&P 500 rose less than a point, and the Nasdaq rose 4.
Specialist Nils Petrik works on the floor of the New York Stock Exchange Monday, Aug. 22, 2011. Stocks closed a little higher on Monday, after a four-week losing streak.
Richard Drew / AP
U.S. stock indexes are closing with modest gains after a four-week losing streak.
The Dow Jones industrial average gave up an early gain of 200 points to close up 37. Compared with the wild swings of earlier this month, Monday's trading was relatively calm.
Bank of America lost 8 percent, the most among the 30 Dow stocks. Wells Fargo analysts cut their price target on the stock, citing fears that the U.S. could slip into a recession.
The Dow rose 37 points, or 0.3 percent, to close at 10,855.
The S&P 500 rose less than a point to 1,124. The Nasdaq rose 4 points, or 0.2 percent, to 2,345.
Three stocks fell for every two that rose on the New York Stock Exchange. Trading volume was above average at 4.7 billion.