US stocks have closed mixed after last week’s massive sell-off, with Wall Street still nervous about losses at banks and high energy costs.
A pullback in crude oil prices provided only limited relief to investors, who largely stuck to the stocks of large companies. Blue-chips are regarded as safer assets during times of economic uncertainty.
The Dow rose 70.51, or 0.58%, to 12,280.32 after Friday’s rout, which was the worst tumble on Wall Street in 15 months. During trading today, the blue chip index rose more than 100 points, fell briefly into negative territory, and then rebounded again.
Broader stock indicators finished mixed. The Standard & Poor’s 500 index rose 1.08, or 0.08%, to 1,361.76, while the Nasdaq composite index fell 15.10, or 0.61%, to 2,459.46.