|
Wall Street's underlying worries about the resilience of the economic recovery were given room to roam Tuesday thanks to a dearth of significant new positive data.
COVID-related hospitalizations are rising across much of the Sun Belt, and yesterday once again saw a new record rolling seven-day average of daily new cases. That caused economically sensitive stocks such as American Airlines (AAL, -7.0%) and Carnival (CCL, -6.6%) to lead the market lower today.
The Kiplinger Dividend 15: Our Favorite Dividend-Paying Stocks
The tech-heavy Nasdaq Composite finally suffered a loss after five consecutive up days, closing 0.9% lower to 10,343. The S&P 500 dipped 1.1% to 3,145, and the Dow Jones Industrial Average was the worst of the major blue-chip indices, closing 1.5% down to 25,890. The small-cap Russell 2000 declined 1.9% to finish Tuesday's session at 1,416.
There were a handful of bright spots, however.
Walmart (WMT, 6.8%), for instance, leaped on news that it will launch an Amazon Prime competitor subscription service later this month for $98 annually. The service reportedly will include perks such as same-day grocery delivery and discounts on fuel.
And Novavax (NVAX, 31.6%) roared ahead after announcing the federal government is awarding the biotech company $1.6 billio
|
|
Private Label